Online Banking Agreement

What the Agreement Covers

This Agreement between you and Cabarrus Bank & Trust Company governs the use of Online Banking services. In this agreement, the words "we", "us" or "our" mean Cabarrus Bank & Trust Company. When we use the words, "you" or "your" we mean each person who has an interest in an account or other relationship, which is accessible through the Cabarrus Bank & Trust Company Online Banking and any person authorized such access.

The Online Banking services permit Cabarrus Bank & Trust Company customers (consumers, sole proprietors and other business customers) to perform a number of banking functions on accounts linked to the service through the use of a personal computer. Unless indicated otherwise by the context, "linked Cabarrus Bank & Trust Company accounts" or "linked accounts" refers to all of your accounts with Cabarrus Bank & Trust Company that you have linked to Online Banking.

Accepting the Agreement

When you use any of the Online Banking services described in this Agreement, or authorize others to use them, you agree to the terms and conditions of the entire Agreement. Your use of Online Banking may be accessed by, but not limited to, a required User ID and Password. All electronic communications that meet these requirements will be deemed to be valid and authentic and you intend and agree that those electronic communications will be given the same legal effect as written and signed paper communications. You agree that electronic copies of communications are valid and you will not contest the validity of the originals or copies, absent proof of altered data or tampering.

Relation to Other Agreements

Your use of Online Banking services may also be affected by the agreements between us for your linked Cabarrus Bank & Trust Company accounts. When you link an account to Online Banking services, you do not change the agreements you already have with us for that account. You should review those agreements for any applicable fees, for limitations on the number of transactions you can make, and for other restrictions that might impact your use of an account with Online Banking services.

Changes to Agreement

We may change this agreement at any time. We will give notice to you on the sign-on screen at least 30 days before the effective date of the amendment, unless such change, or amendment is otherwise required by law, applicable regulation, or if an immediate change is necessary to maintain the security of an account or our Online Banking services. Your continued use of the Online Banking services is your agreement to the amendment(s).

Severability

If any provision of this agreement is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

Online Banking Services for Consumers and Businesses

Account Access

You may view information about your linked Cabarrus Bank & Trust Company accounts through Online Banking. You can view current balance information, account history and check images for your linked accounts.

Online Statements

When using Online Banking, you will continue to receive your regular account statement either monthly or quarterly, depending on the type of account.

However, you will have the option to sign up for Online Statements which will allow you to view your account statement(s) electronically through Online Banking in lieu of receiving paper statement(s). If you choose to receive your statement(s) electronically, you will no longer receive your paper statement(s) in the mail.

To print or download online statements or disclosures, you must have a printer connected to your PC or sufficient hard-drive space to save the statement or disclosure.

NOTE: viewing your linked Cabarrus Bank & Trust Company account(s) history online is NOT the same as viewing your account statement(s) online. Online Statements is an independent service within Online Banking that allows you to view your statements electronically vs. receiving paper statements in the mail. You will be able to view account history in Online Banking with or without Online Statements.

By signing up for Online Statements, you agree to receive your account statement(s) online in lieu of paper statements. Online Statements will provide your account statement history for 12 months.

Transfer of Funds

By using Online Banking, you will have the capability to transfer funds between your linked Cabarrus Bank & Trust Company accounts on either a one-time or recurring basis, including as a payment to a linked installment loan or mortgage. Transfers made after 5:00 p.m. Eastern Standard Time on a business day, Saturday, Sunday, Bank or Federal holiday will be processed the next business day.

Export Information

Online Banking allows you to export account information to personal financial management software (PFM), such as Quicken® or Microsoft® Money.

(Business Online Banking only)

Business Online Banking also supports the export of account information to QuickBooks®.

Electronic Mail -- (Email)

Online Banking offers you the ability to create Balance Alerts. You may create a variety of Balance Alerts for your linked Cabarrus Bank & Trust Company accounts. Each alert has different options available, and you will be asked to select from among these options upon activation of your alerts service.

Electronic alerts will be sent to the e-mail address you have provided as your e-mail address for Online Banking. If you change your e-mail address, you are responsible for also changing your e-mail address within Online Banking.

You understand and agree that your alerts may be delayed or prevented by a variety of factors. We neither guarantee the delivery nor the accuracy of the contents of any alert. You also agree that we shall not be liable for any delays, failure to deliver, or misdirected delivery of any alert, for any errors in the content of an alert; or for any actions taken or not taken by you or any third party in reliance on an alert.

NOTE: If you send the bank an e-mail message, please be aware that email transmissions are not secure. We advise you not to send us or ask for sensitive information such as account numbers, password, account information, etc. via any general or public e-mail system. If you wish to contact us electronically, please use the secure Guest Book provided on our website (http://www.cabarrusbankandtrust.com). Use this secure form to e-mail the Bank inquiries regarding concerns of a confidential nature.

Bill Payment Services

In addition to the Online Banking features listed above, Cabarrus Bank & Trust Company customers with a deposit account may use the Bill Payment service to make one-time, future-dated, and recurring payments from your linked checking account(s) to companies or individuals (Payees) you select.

Payments are processed to be paid on the scheduled due date. Payments can be processed in various ways: 1) through the Automated Clearing House (ACH) secure network directly, 2) by aggregating payments electronically to the biller directly, 3) by sending a corporate check to the biller, or 4) by sending a laser draft to the biller.

Payments begin processing prior to the due date, so that they are scheduled to be received by the biller on the due date

Payment processing times vary by biller and can vary from payment to payment. For most billers, payments are processed in four business days. However, for some billers, payments can be processed on the same day that they are scheduled, or the next day.

The payment processor determines the payment method based on a proprietary risk model which takes into account many factors, including but not limited to a soft credit score for the user, the user's payment history, arrangements with the biller, and many other factors. Typically, payments using the ACH system are sent on the evening before the due date. Paper checks are cut and mailed one to three business days before the due date, depending on which processing center is used and the location of the biller. The completion of the payment depends in part upon how quickly the biller updates the account after receiving the payment.

Payments made using the ACH system or via corporate check are based on a Risk Funds Model. Risk Funds is when the user's funds are not verified for the amount of the transaction before the payment is processed.

Exceptions that would prevent completion of a successful payment include:

  • Non-sufficient funds (NSF) or uncollected funds
  • Invalid, closed or account not found
  • User revoked the transaction or payment stopped
  • Other returns (including administrative returns such as bad effective date, format errors, account is a non-transaction account, etc.)

The Bank will not be responsible or liable in any way for damages you incur for any exceptions that prevent the completion of a successful payment.

An account that results in an exception will be flagged. Until the exception is resolved, subsequent payments may be paid via laser draft even if they had previously been paid electronically. Repeated returns (for example, repeated NSFs) will result in user-level suspension.

The Bank is only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. The Bank will also not be liable in any way for damages you incur for any of the following reasons:

  • Delays in mail delivery
  • Changes to the payee's address or account number
  • Failure of any payee to correctly account for or credit the payment in a timely manner
  • Any other circumstances beyond the control of the Bank

When a payment or other online service generates items to be charged to your account, you agree that we may debit your Bill Payment account without requiring your signature on the item, and without prior notice to you.

Wire Transfers (Business Online Banking only)

Business customers may send Wire Transfers from Business Online Banking. Wire Transfers initiated/approved before 2:00 p.m. on a business day are completed that same day. Wire Transfers completed after their respective cut-off time on a business day, Saturday, Sunday, Bank or Federal holiday will be posted the next business day. You will incur wire transfer charges as disclosed in your account agreement with us.

Stop Payments (Business Online Banking only)

Business customers may send Stop Payment requests from Business Online Banking. Online stop payment requests are processed as soon as possible following receipt of such stop payment. Stop payment requests received during non-business hours will be processed as soon as practical following the start of the next business day. If you make your stop payment request online, we may require you to put your request in written form to be received by us within 14 days of your online request. You will incur stop payment charges as disclosed in your account agreement with us.

Automated Clearing House (ACH) (Business Online Banking only)

Send Automated Clearing House (ACH) transfers from Business Online Banking. ACH transfers initiated/approved before 5:00 p.m. on a business day are completed that same day. ACH transfers completed after their respective cut-off time on a business day, Saturday, Sunday, Bank or Federal holiday will be posted the next business day.

Additional Business Services (Business Online Banking only)

We offer businesses the ability to create multiple login IDs with separate passwords, each with the access level you designate.

You may also designate another user as an Administrator, which means that this user will also be able to designate additional users. You agree that, by granting access, you may be allowing a user to transfer funds, perform account maintenance and view account transactions for the linked account(s). If you no longer are a person authorized on the signature card for each linked account to designate signers for each such account, the business has the obligation to inform Cabarrus Bank & Trust Company's e-Banking department of the new individual or individuals with such authority. Such notice must be given separately from any other notices given to other Cabarrus Bank & Trust Company departments by calling us at 704-262-3855. Cabarrus Bank & Trust Company will have no liability to you for unauthorized payments and transfers made using the passwords you assign that occur before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice.

Disclosure of Account Information to Others

As described below, we may disclose information to third parties about your accounts if:

  • We have entered into an agreement to have another party provide the Online Banking or Bill Pay service. We will provide the third party(s) with information about your linked accounts in order to carry out your instructions;
  • It is necessary for completing transfers and/or bill payments;
  • In order to comply with laws, government agency rules or orders, court orders, subpoenas or other legal process or in order to give information to any government agency or official having legal authority to request such information;
  • If you give us your written permission;
  • As provided in our Privacy Statement.

Protecting Your Password

You are required to select or will be assigned a User ID and Password. Use of your User ID and Password are the agreed security procedure to access the Online Banking services. You agree to: 1) keep your password secure and strictly confidential, providing it only to authorized signers on your account(s); 2) instruct each person to whom you give your password that he or she is not to disclose it to any unauthorized person; and 3) immediately notify us and select a new password if you believe your password may have become known to an unauthorized person. Cabarrus Bank & Trust Company will have no liability to you for any unauthorized payment or transfer made using your password that occurs before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice. We may suspend or cancel your password even without receiving such notice from you, if we suspect your password is being used in an unauthorized or fraudulent manner.

Equipment and Software

A personal computer with access to the Internet is required to use Online Banking services. Our site is optimized for use with certified/recommended browsers and operating systems. If you use a different browser or operating system, you may not be able to take full advantage of all the features of the site. Recommended browsers and operating systems include:

  • Microsoft Internet Explorer 6.x (Windows XP and Windows 2000)
  • AOL 9.0 (Windows XP)
  • Firefox 1.x (Windows XP)
  • Safari 1.3 (Mac OS X 10.3 or higher)

While other browsers may work with Online Banking, these browsers provide the highest level of security, accuracy, and functionality and an optimal visual experience. We also recommend that you enable JavaScript in your browser. JavaScript is required for certain Online Banking features to function properly.

The Bank is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, and your hardware.

Cancellation

Your Online Banking and Bill Pay services remain in effect until they are terminated by you or Cabarrus Bank & Trust Company. You may cancel your service at any time by notifying us of your intent to cancel in writing or by calling us at 704-262-3855. This cancellation applies to your Online Banking and Bill Pay services only, and does not terminate your Cabarrus Bank & Trust Company accounts. We recommend that you cancel any scheduled payments prior to notifying us that you are discontinuing the service.

We may terminate your participation in Online Banking or Bill Pay services for any reason, including inactivity, at any time. Your Online Banking account is defined "Inactive" if you do not log on for 180 days. We will try to notify you in advance, but we are not obliged to do so.

Governing Law

This Agreement is governed by the laws of the State of North Carolina and applicable federal law.