This SendMoney Person to Person Agreement (this “Agreement”), which in addition to your Online Banking Terms & Conditions (click and read the ONLINE BANKING TERMS), your Mobile Banking Agreement (click and read the MOBILE BANKING AGREEMENT), and any and all deposit account agreements (“Deposit Agreements”) you have with Old Second National Bank governs your use of the SendMoney service (the “Service”) and states the terms and conditions governing the Service. In the event of any conflict between the terms of this Agreement, the Online Banking Terms, the Mobile Banking Agreement and all related Deposit Agreements, this Agreement shall control unless attributing such preference for this Agreement would be contrary to applicable federal, state or local law, regulation or ordinance. When you use or access the Service, or when you permit another person or entity to use or access the Service, you indicate you agree to the terms and conditions of this Agreement. You agree that we may amend this Agreement from time to time, in our sole discretion, and upon written notice to you by electronic means, postal mail or by updating the terms on the websites used for the Service. You agree that we may add new features or modify or delete existing features to the Service from time to time, in our sole discretion, and upon written notice to you by electronic means, postal mail or by posting notice on the websites used for the Service. You agree to any such amendments, additions, modifications or deletions (“Changes”) by using the Service after any such Changes have been made and provided as noted herein. For purposes of this Agreement, the terms “us”, “we” or “our” mean Old Second National Bank. “You” or “your” means an individual or an entity that is the owner of an account or an authorized signer on an account with authority to view account information and conduct transactions on such account.
We grant to you a nonexclusive, limited and revocable right to use and access the Service for your personal use or, if you are a business, for internal business purposes only. You agree not to use the Service for any other purpose without our prior written approval. To use the Service, you must have an existing account with us that is permitted to use the Service. This includes any of our checking accounts with existing O2 Online Banking access (online banking service formerly known as “NetTeller”) that do not have cash management access. Old Second National Bank reserves the right to further limit the type of accounts that may use the Service at any time and in our sole discretion. All transfers performed through the Service will appear on your normal periodic account statements. If you should cancel O2 Online Banking at any time, you will also be cancelling access to this Service.
Unless otherwise defined in this Agreement or elsewhere, the following terms have the following meanings:
- "Service" means the Old Second National Bank SendMoney payments service.
- "Sender" is a person or entity that requests a payment be sent through the Service.
- "Receiver" is a person or entity that is to be sent a payment through the Service.
- "Payment Instruction" is the information provided by the Sender to the Service for a payment to be made to an individual (such as, but not limited to, name, telephone number, and email address of the individual).
- "Transaction Account" is the Old Second National Bank transaction account from which your payments as a Sender will be debited and your Service Fees will be automatically debited.
- "Business Day" is every Monday through Friday, excluding Federal Reserve holidays or other days that banks are legally closed.
- “Refused Payment” means that Old Second National Bank, based on its analysis of the transaction, declines to complete a payment directed by the Sender.
- “Cutoff Time” means the time by which we must receive a Payment Instruction to have it considered entered on that particular Business Day. See paragraph 7 below for further information.
- Computer Equipment, Browser and Internet Service. You are solely responsible for installation, operation and maintenance of your own hardware, software or other equipment necessary to access the Service. This includes, but is not limited to, obtaining internet service via an internet service provider of your choosing, and you using an up to date web browser and adequate, commercially available antivirus, antispyware and internet security software. You acknowledge that inherent with any service that accesses the internet, there are access, security, transmission error and availability risks, and you expressly assume all such risks.
- Login Security. Please see the Online Banking Terms & Conditions for additional information under INTERNET SECURITY INFORMATION, BROWSER OPTIONS, REGISTRATION PROCESS and LOGIN SECURITY by clicking HERE.
- Payment Authorization and Payment Remittance.
- By providing Old Second National Bank with names and/or telephone numbers and/or email addresses of Receivers to whom you wish to direct payments, you as a Sender authorize Old Second National Bank to follow the Payment Instructions that it receives through the Service.
- When Old Second National Bank receives a Payment Instruction from you, you as a Sender authorize Old Second National Bank to initiate an ACH debit to your Transaction Account and remit funds on your behalf. If you are authorizing a Payment Instruction to a Receiver who is not registered with the Service, and the Receiver does not register within 9 calendar days from the date that Old Second National Bank received the Payment Instruction from you, and then funds will not be withdrawn from your Transaction Account, the Payment Instruction will expire, and the transaction will be cancelled. You also authorize Old Second National Bank to credit your Transaction Account for payments returned to Old Second National Bank from Receivers to whom you sent payment(s) or that were undeliverable.
- Receivers of payments who are not already registered for the Service will be invited to register. The timing of availability of funds in a Receiver's Transaction Account is subject to the agreement between the Receiver and the financial institution holding the Receiver's Transaction Account.
- Old Second National Bank will use reasonable efforts to make all your payments properly. However, Old Second National Bank shall incur no liability if Old Second National Bank is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances:
- If the Transaction Account does not contain sufficient funds to complete the transaction;
- The Service is not working properly and you know or have been advised about the malfunction before you execute the transaction;
- The payment is refused as described below;
- You as a Sender have not provided Old Second National Bank with the correct information, including but not limited to the correct name and address or phone number of the Receiver to whom you are sending a payment;
- Your designated Receiver fails to register as described above or rejects the payment sent as directed by you; and/or,
- Circumstances beyond the reasonable control of Old Second National Bank (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution, or interference from an outside force) prevent the proper execution of the transaction and Old Second National Bank has taken reasonable precautions to avoid those circumstances.
- It is the responsibility of the Sender and the Receiver to ensure the accuracy of any information that they enter into the Services (including but not limited to the name, telephone number and/or email address that the Sender enters for the Receiver to whom you are sending the payment), and for informing Old Second National Bank as soon as possible if they become aware that this information is inaccurate. Neither the Sender nor Receiver may use a P.O. Box as a postal address. Old Second National Bank will make a reasonable effort to stop or recover a payment made to the wrong person or entity once informed, but Old Second National Bank does not guarantee such recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by the Sender or Receiver.
- Payment Instructions and the data related thereto shall comply with this Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and the applicable automated clearing house. You agree to be bound by all such rules in effect, and as may be amended from time to time. In accordance with these rules, any payment to or from your account through the Service shall be provisional until such payment has been finally settled by us, or by a third party financial institution as applicable. You acknowledge receiving this notice and also that if we do not receive final settlement for a payment for any reason, we shall charge back the amount of such payment to the applicable account or claim a refund from you.
- Payment Methods and Amounts. Payments through the Services may be made in amounts up to $2,500 per transaction with a maximum of $2,500 per business day. Old Second National Bank may, at our sole discretion, amend or impose further limits on the amount of money and/or the number of payments you can send or receive through our Services. We also reserve the right to select the method in which to remit funds on your behalf, and the method to return funds to you in the event that your Transaction Account is closed or otherwise unavailable to Old Second National Bank. These payment methods may include, but may not be limited to, an electronic payment or a check payment.
- Cutoff Times. So long as a Receiver registers for receipt of payment through the Service as described above, the Cutoff Time to process a payment on the following Business Day is 2:00 PM Central Time. Payment Instructions completed prior to the Cutoff Time will be processed by the next Business Day. Payment Instructions completed after 2:00 PM Central Time will be processed and paid within the following two (2) Business Days.
- Payment Cancellation Requests and Refused Payments. Sender may cancel a payment at any time until it begins processing. Payments not claimed by the Receiver will be automatically cancelled nine days after the payment is generated. When a Sender sends money, the Receiver is not required to accept it. As a Sender, you agree that you will not hold Old Second National Bank liable for any damages resulting from a Receiver's decision to accept or not to accept a payment made through the Services. We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied payment to the Sender's Transaction Account. If this is unsuccessful (for example, the Transaction Account has been closed) we will make reasonable attempts to mail you a paper check.
- Stop Payment Requests. Old Second National Bank may be unable to stop any payment once the Payment Instruction has been submitted to the Service. If you as a Sender desire to stop any payment that has already been submitted to the Service, you must contact customer service for the Service. Although Old Second National Bank will make a reasonable effort to accommodate your request, Old Second National Bank will have no liability for failing to do so.
- Prohibited Payments and Use. You agree that we may obtain any additional information we deem reasonably necessary to prevent you from using the Service in violation of any laws, regulations or ordinations, including but not limited to “money laundering” activities that would be blocked under regulations from the Office of Foreign Asset Control (“OFAC”). The following types of payments are prohibited through the Service and you agree not to use the Service to send or receive prohibited payments. Old Second National Bank reserves the right to block and/or reverse the following payments if it becomes aware of the prohibited payment:
- Payments to persons or entities located anywhere other than the United States; and
- Payments that violate any law, statute, ordinance or regulation; and
- Payments related to: (1) tobacco products; (2) prescription drugs and devices; (3) narcotics, steroids, controlled substances or other products that present a risk to consumer safety; (4) drug paraphernalia; (5) ammunition, firearms, or firearm parts or related accessories; (6) weapons or knives regulated under applicable law; (7) goods or services that encourage, promote, facilitate or instruct others to engage in illegal activity; (8) goods or services that are sexually oriented; (8) goods or services that promote hate, violence, racial intolerance, or the financial exploitation of a crime; (9) goods or services that defame, abuse, harass or threaten others; (10) goods or services that include any language or images that are bigoted, hateful, racially offensive, vulgar, obscene, indecent or discourteous; (11) goods or services that advertise or sell to, or solicit others; (12) goods or services that use the Site for commercial purposes of any kind other than to facilitate a transaction on the Services; (13) goods or services that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction; and
- Payments related to gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes; and
- Payments relating to transactions that: (1) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or multi-level marketing programs; (2) are associated with purchases of real property, annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card; (3) are for the sale of items before the seller has control or possession of the items; (4) are by payment processors to collect payments on behalf of merchants; (5) constitute money-laundering or terrorist financing; (6) are associated with the following "money service business" activities: the sale of traveler's checks or money orders, currency dealers or exchanges or check cashing, or stored value; or (7) provide credit repair or debt settlement services; and
- Payments that involve: (1) airlines and scheduled or non-scheduled charters/jets/air taxi operators; (2) collecting donations as a charity or non-profit organization; (3) dealing in jewels, precious metals and stones; (4) acting as a money transmitter or selling stored value cards; (5) selling stocks, bonds, securities, options, futures (forex) or an investment interest in any entity or property; or providing escrow services; (6) offering online dating services; (7) providing file sharing services or access to newsgroups; or (8) selling alcoholic beverages; and
- Tax payments and court ordered payments; and
- Payments that involve stored value or prepaid access accounts, cards or devices.
In no event shall Old Second National Bank be liable for any claims or damages resulting from your scheduling of prohibited payments. Old Second National Bank has no obligation to research or resolve any claim resulting from a prohibited payment. All research and resolution for any misapplied, misposted or misdirected prohibited payments will be the sole responsibility of the Sender and not of Old Second National Bank. We encourage you to provide notice to Old Second National Bank of any violations of this section.
- Your Liability For Unauthorized Transfers. Refer to the NOTICE OF YOUR RIGHTS AND LIABILITIES section of the Old Second National Bank Online Banking Terms & Conditions found HERE.
- Taxes. It is your responsibility to determine what, if any, taxes apply to the payments you make, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. Old Second National Bank is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
- Service Fees and Additional Charges. There is no charge for Person to Person Payments. Any other applicable fees will be disclosed in the user interface for the Services. Any applicable fees will be charged regardless of whether the Services were used, except for fees that are specifically use-based. There may be a charge for additional transactions and other optional services. You agree to pay such charges and authorize Old Second National Bank to deduct the calculated amount from your designated Transaction Account for these amounts and any additional charges that may be incurred by you. Any financial fees associated with your standard deposit accounts will continue to apply. You are responsible for any and all telephone access fees and/or Internet service fees that may be assessed by your telephone and/or Internet service provider.
- Failed Or Returned Transactions. In using the Services, you are requesting Old Second National Bank to make payments for you from your Transaction Account. If we are unable to complete the transaction for any reason associated with your Transaction Account (for example, there are insufficient funds in your Transaction Account to cover the transaction), the transaction may not be completed. In some instances, you will receive a return notice from Old Second National Bank. In each such case, you agree to pay the prevailing fee on the most recent fee schedule associated with the failed or returned transaction.
- Refused Payments. Old Second National Bank reserves the right to refuse to pay any Receiver. Old Second National Bank will notify the Sender promptly if it decides to refuse to pay a Receiver designated by the Sender. This notification is not required if you attempt to make a prohibited payment under this Agreement. There is not a fee associated with a Refused Payment.
- Returned Payments. In using the Services, you understand that Receivers may return payments to Old Second National Bank for various reasons such as, but not limited to, account number is not valid. Old Second National Bank will use reasonable efforts to research and correct the returned payment and return it to the Receiver to whom you intended to make a payment, or void the payment and credit your Transaction Account. You may receive notification from Old Second National Bank of Returned Payments. There is not a fee associated with a Returned Payment
- Information Authorization. Your enrollment in the Services may not be fulfilled if Old Second National Bank cannot verify your identity or other necessary information.
- Notices. You agree that by using the Service, all notices and communications regarding the Service and transactions related to the Service may be sent to you electronically to any email address you give us, or by any other legally permissible way. Changes or communications affecting more than one customer using the Service may be posted on our website.
- Service Termination, Cancellation, or Suspension. In the event you wish to cancel the Services, you may call us at 630-966-2455 during customer service hours; or email us at firstname.lastname@example.org. Any payment(s) Old Second National Bank has already processed before the requested cancellation date will be completed by Old Second National Bank. However, any pending but not processed Payment Instruction, or any Payment Instruction set up as a future Payment Instruction will be cancelled. Old Second National Bank may terminate or suspend your use of the Services at any time. Neither termination nor suspension shall affect your liability or obligations under this Agreement.
- Errors, Questions, and Complaints.
- In case of errors or questions about your transactions, you should contact us soon as possible at 630-966-2455 during customer service hours; or email us at email@example.com.
- If you think your transaction history is incorrect or you need more information about a Service transaction listed in the transaction history, we must hear from you no later than sixty (60) days after the transaction in which the problem or error appears is first posted in the transaction history, and you must include the following information:
- 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
- Receiver name
- Date of Payment Instruction submittal, confirmation number or code, amount of Payment Instruction
- All identifying information for Receiver given through the Service and additional information that you may have available
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.
- Indemnification. You agree to defend, indemnify and hold Old Second National Bank, its Affiliates, vendors and their employees and contractors harmless from any loss, damage, claim or demand (including attorney's fees) made or incurred by any third party due to or arising out of your breach of this Agreement and/or your use of the site or the Services.
- Limitation of Liability. In addition to any other limitations found in your Online Banking Terms & Conditions (click HERE), and the indemnification of Paragraph 21 above, you agree that:
(a) Our liability to you for any losses, liabilities, damages, claim, demands, obligations, actions, suits, judgments, penalties, costs or expenses, including, but not limited to, attorney’s fees (collectively, “Losses”) arising out of or relating to this Agreement or the Service shall be limited to direct damages attributable to the Bank’s gross negligence or willful misconduct in performing the Service. Notwithstanding the forgoing, in no event shall Bank be liable hereunder for any Losses relating to: (i) any punitive, indirect, incidental, consequential or special damages or lost profits, even if we have been advised of the possibility of such Losses;
(b) You agree to indemnify, defend, and hold us harmless from and against any and all Losses arising directly or indirectly from your use of the Service, our action under this Agreement or any other matters related to this Agreement, including, but not limited to, any Losses relating to the receipt or alleged receipt by us of any funds through the Service or your failure to have proper authorization for payments received through the Service and deposited into your account; provided, however, that you shall not be obligated to indemnify us for direct damages attributable to our gross negligence or willful misconduct.
(c) The provisions of this Paragraph 22 will survive the termination of this Agreement.
Force Majeure and Indemnity. You agree to release us from responsibility or liability for any inaccuracy, interruption, delay or failure in transmission and to indemnify and hold us harmless when circumstances such as service availability, weather, power failure, equipment failure, communication line failures, acts of God, strikes or stoppages of labor, legal or regulatory restrictions applicable to Old Second National Bank, you, or any related service or transaction, or any other factor, medium, instrumentality, condition or cause beyond our reasonable control, and errors or the lack of responsiveness of other organizations that are beyond our reasonable control.