Online Banking Service Agreement, Disclosure Statement and Bill Pay Terms of Service

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Online Banking Service Agreement and Disclosure Statement

This Agreement between you and Banesco USA governs your use of our Online Banking services (the “Service”).   The Service permits our Customers to perform a number of banking functions on accounts linked to the Service through the use of a personal computer and the Internet.

This agreement states the terms and conditions that apply when you open qualifying account(s) on the Internet, Internet-enable qualifying account(s), access account information over the Internet, or transfer funds between qualifying Internet-enabled accounts. These terms and conditions are in addition to those that apply to any accounts you have with us or any other services you obtain from us. You must also follow all of our instructions and procedures applicable to the services covered by this agreement.

Prerequisites for Enrolling in the Internet Banking Service 

In order to enroll in the Internet Banking Service:

• You must have an Eligible Account with Banesco USA
• Your account with us must be in good standing
• You must be at least 18 years of age

Hardware and Software Equipment Requirements:

• You must have a computer and Internet browser that will support 128 bit encryption.
• We recommend use of the most current, fully patched, versions of Internet browsers for accessing the Internet Banking Service.
• Some features of the Internet Banking Services may not be supported with older browsers.
• You will need Internet access through an Internet service provider (ISP).
• You will need access to a printer and/or other storage medium such as a hard drive for downloading information or printing disclosures.
• You will also need an external email address for the delivery of electronic notices and disclosures.
• You must maintain fully updated anti-virus protection on your computer at all times.

Prior to enrolling in the Internet Banking Service and accepting the electronic version of this Agreement, you should verify that you have the required hardware and software necessary to access the Internet Banking Service and to retain a copy of this Agreement.

If we revise hardware and software requirements, and if there is a material chance that impact your ability to access the Internet Banking Service, we will give you advance notice of these changes and provide you an opportunity to cancel the service and/or change your method of receiving electronic disclosures (e.g. change to paper format vs. an electronic format) without the imposition of any fees.

Explanation of Certain Terms

• “We”, “us” and “our” means Banesco USA
• “You” and “your” mean an individual person or business entity that we permit to use the Internet banking services subject to the terms of this agreement.
• “Company representative” means, if you are a business entity, anyone we reasonably believe, in accordance with our security procedures, to be authorized to act on your behalf in connection with our online banking service.
• “Internet-enable” your account(s) means to enable you to obtain our service that allows you to obtain information and perform transactions we make available for your qualifying accounts over the Internet by use of a personal computer and modem and/or other means we authorize or allow.
• “Online banking” means the services provided under this agreement which allow you to access information about your Internet-enabled accounts, transfer funds between qualifying accounts, and perform other transactions and obtain other services that we authorize or allow, but does not include our bill pay service.
• “Online” means through the Internet by use of a personal computer or other screen-based electronic device.
• “Account” means a deposit, loan or other account for which transactions may be performed using our Online Banking service.
• “Consumer account” means an account established primarily for personal, family, or household use.
• “Business account” means an account that is not a consumer account.
• “Access codes” include the customer identification number, log-in, password and any other means of access to our Online Banking service we establish or provide for you.

Access Codes

To use our Online Banking service, you must use the access codes we establish or provide for you. Keep them confidential to prevent unauthorized use or loss to your accounts. Anyone to whom you give your access codes will have full access to your accounts even if you attempt to limit that person’s authority. Additionally, that person will have full access to any other of your accounts which are accessed by those access codes, even if those accounts are in your name with another person.

None of our employees or employees of our affiliates will contact you via phone or e-mail requesting your access codes. If you are contacted by anyone requesting this information, please contact us immediately at our phone number shown in the section below entitled Notify us IMMEDIATELY for Unauthorized Transactions.

Protecting Your Personal Information

In addition to protecting your access codes, you should also take precautions to protect your personal identification information, such as your driver’s license, Social Security number, or tax identification number. This information by itself or together with account information may allow unauthorized access to your accounts. You should treat personal information with the same level of care that you would for your account information. You should also protect and secure all information and data stored in any personal computer or other equipment you use to access our Online Banking service.

Individual Agreement for Online Banking Service

We do not have joint agreements for our Online Banking service. If you are an individual or sole proprietor, you are the only customer under this agreement. However, any of the accounts to which you have access through our Online Banking service may be jointly owned with, or joint obligations with, others.

Qualifying Accounts

We will tell you which types of accounts qualify for our Online Banking service. You must be a named owner/obligor on the account in our records for it to qualify. Any account requiring more than one signature for withdrawal, draw or transfer of funds does not qualify. You agree to provide us with any authority we require before we permit access to any qualifying account.

How to Use Our Online Banking Service

Please refer to the online help and instructions on how to use our Online Banking service. These instructions are part of this agreement.

Types of Online Banking Services

You, or someone you have authorized by giving them your access code (even if that person exceeds your authority), can instruct us to perform the following transactions:

• Transfer funds between qualifying accounts;
• Obtain information that we make available about qualifying accounts; and
• Obtain other services or perform other transactions that we allow.

Preauthorized Recurring Fund Transfers

To the extent we make them available, you authorize us to establish preauthorized recurring fund transfers in accordance with the requests you make for us to do so. We will only allow preauthorized recurring fund transfers that do not vary in amount.

Communications Link and Your Equipment

It is your responsibility to obtain and maintain your online communications link to our Online Banking service to ensure that your use of such communications link is in compliance with applicable requirements, including any requirements of telecommunications companies and authorities. You are responsible for obtaining, installing, maintaining and operating all hardware, software and Internet access services necessary for obtaining our Online Banking service.

Limits on Online Funds Transfers

You must have enough available money or credit in any account from which you instruct us to make a transfer. All transfers must be in U.S. Dollars.

For security reasons, we may implement limits on the number or amount of transactions you can make using our Online Banking service. We also reserve the right to limit or suspend access to our Online Banking service as we deem necessary for security reasons. We may also limit access from countries other than the United States of America.

If any qualifying accounts are money market deposit accounts or savings deposit accounts, certain types of withdrawals from those accounts, including payments and transfers, are limited to a total of no more than 6 in any specified period. The specified period for these types of accounts is the monthly statement cycle. The kinds of withdrawals covered by this limitation are those made by means of preauthorized or automatic transfers and payments or POS transactions or checks or telephone agreement order or instruction. You will be charged a fee for each withdrawal or payment order in excess of six (6) during the statement cycle.  If you exceed the transfer limitation three (3) times in a twelve (12) month rolling period, your account will be subject to closure and funds transferred to a qualifying account.

When Online Funds Transfers are Made

Transfers are not final at the time we receive your instructions, but we will begin to process them promptly. You should allow at least 1 business day for us to process transfers.

Each transfer will be posted to any account with us from which it is made, and to any other account with us that is involved in the transaction, on the business day on which the transfer is made. Each transfer you make on a non-business day, or after our Online Banking cut-off time on any business day, will be considered made on the following business day. Information you obtain about your accounts using our Online Banking service may not reflect transactions that have not yet been posted to your accounts. You should keep that in mind when you perform or attempt to perform any transactions on the basis of such information.

Our Liability for Failure to Complete Transfers from Consumer Accounts

If we do not complete a transfer from a consumer account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are exceptions. We will NOT be liable, for instance:

• If, through no fault of ours, you do not have enough available money in the account from which a transfer is to be made, or if the account has been closed or is not in good standing, or if we reverse a transfer because of insufficient funds.
• If any transfer would go over the credit limit of any account.
• If your equipment or ours was not working properly and the breakdown should have been apparent to you when you attempted to conduct the transaction.
• If you have not given us complete, correct or current account numbers or other identifying information so that we can properly credit your account or otherwise complete the transaction.
• If you do not properly follow our instructions or if you provide us with wrong or inaccurate information or fail to correct or tell us about any inaccuracy of which you are aware.
• If you do not instruct us soon enough for your transfer to be received and credited.
• If the money in the account from which a transfer is to be made is subject to legal process or other claim restricting the transaction.

• If circumstances or persons beyond our control prevent, delay, intercept, or alter the transaction, despite reasonable precautions that we have taken.

Business Days

Our Online Banking service is generally available 24 hours a day, 7 days a week. However, we only process transactions and update information on business days. Our business days are Monday through Friday. Holidays are not business days.

 Business Day Cutoff – Refers to the cut-off time for posting purposes.  The cut-off time for online transactions is based upon our Business Days and the Eastern Time Zone.

Stopping or Changing Transfers

If you want to stop or change transfers you have instructed us to make, you must notify us before we have started processing the transaction. This applies to both individual transactions as well as preauthorized recurring transactions. The normal way to do this is for you to access the appropriate function in our Online Banking service no later than the day before the business day the transfer is scheduled to be made, and either delete it or make the change.

You may also call or write us at:

Client Care Center

Within the U.S. 786-552-0524 or 1-888-228-1597

Dialing from Venezuela 0-800-122-8226

Mailing Address:

Banesco USA

Attn: Client Care Center

3155 NW 77th Ave

Miami, FL 33122

If we provide you with another electronic means of notifying us for this specific purpose, you may use that means. However, DO NOT use a general e-mail service or other electronic means that we have not specifically authorized for this purpose.

 Your Liability for Unauthorized Transactions From Consumer Accounts – Electronic Funds Transfer (excludes wire transfers)

This section applies only to transactions from consumer accounts.

If you tell us within 2 business days after you learn of the loss or theft of your access codes involving a consumer account, you can lose no more than $50.00 if someone used them without your authority.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your access codes, and we can prove that we could have stopped someone from using them without your authority if you had told us, you could lose as much as $500.00.

Also, if your statement for a consumer account shows transfers covered by this agreement that you did not make or authorize, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.

Transfers Involving Insufficient Funds

If you instruct us to make a transfer and you do not have a sufficient balance in the account from which you are making the transfer (including available credit under any overdraft line), we may refuse to complete the transaction. We may do this even if there are sufficient funds in accounts other than the one you were using to make the transfer. If we complete a transfer that you make or authorize and we subsequently learn that you have insufficient funds for the transaction in the account from which the transfer is made, you agree that we may reverse the transaction or offset the shortage with funds from any other account you have with us. In any case, you are fully obligated to us to provide sufficient funds for any transfers you make or authorize.

If we do not make a transfer, or if we reverse a transfer, because of insufficient funds, we are not required to make any further attempt to process the transfer or to notify you that the transfer has not been completed. You may be liable for a non-sufficient funds fee under the terms governing the account from which you made, or attempted to make, the transfer. You can refer to our schedule of fees available on our website.

In Case of Errors or Questions About Transactions Involving Consumer Accounts

This section applies only to transactions covered by this agreement and that involve consumer accounts.

You may call or write:

Client Care Center

Within the U.S. 786-552-0524 or 1-888-228-1597

Dialing from Venezuela 0-800-122-8226

Mailing Address:

Banesco USA

Attn: Client Care Center

3155 NW 77th Ave

Miami, FL 33122

As soon as you can, if you think your statement is wrong or if you need more information about a transfer covered by this agreement which is listed on the statement.

We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

• Tell us your name and account number (if any).
• Describe the error or transfer you are unsure about and explain as clearly as you can why you believe it is an error and why you need more information.
• Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing so that we receive it within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we are not required to provisionally credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to provisionally credit your account for the amount you think is in error.

When the investigation is completed, we will make any necessary or appropriate adjustments to your account. We will tell you the results within 3 business days after completing our investigation. If we decide that there was no error or the error was different than you described, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation.

If you have inquiries regarding your account, please contact Banesco USA at:

Client Care Center

Within the U.S. 786-552-0524 or 1-888-228-1597

Dialing from Venezuela 0-800-122-8226

Mailing Address:

Banesco USA

Attn: Client Care Center

3155 NW 77th Ave

Miami, FL 33122

 Changing Terms and Terminating This Agreement

This agreement will stay in effect until it is changed or terminated.

We have the right to terminate this agreement at any time. We will ordinarily send you notice of any termination, but we are not required to do so unless applicable law requires such notice. Once we terminate this agreement, no further or pending transfers will be made, including but not limited to any transfers scheduled in advance or any preauthorized recurring transfers. We may routinely terminate Online Banking service for customers that have not used the service within the first 30 days after activation or if the service has been inactive for a year.

We also have the right to make changes in this agreement at any time. We will comply with any notice requirements under applicable law for such changes. If applicable law does not specify any notice requirements for the change, we will decide what kind of notice (if any) we will give you and the method of providing any such notice.

You may terminate this agreement at any time by notifying us in writing to 9500 NW 41 St., Doral, FL 33178. However any instructions from you to make transfers will continue in effect until we have received your written notice of termination and have had a reasonable opportunity to act upon it. Once we have acted upon your notice, no further or pending transfers will be made, including but not limited to any transfers scheduled in advance or any preauthorized recurring transfers.  This cancellation applies only to your Bill Payment service and does not terminate your other relationships with us.

You are not permitted to alter or amend this agreement or any related document without our express written consent. Any attempt to do so will be void and unenforceable.

Waivers

No delay or omission by us in exercising any rights or remedies under this agreement or applicable law shall impair such right or remedy or be construed as a waiver of any such right or remedy. Any single or partial exercise of a right or remedy shall not preclude further exercise of that right or remedy or the exercise of any other right or remedy. No waiver shall be valid unless in a writing enforceable against us.

Notices and Communications

Except as otherwise provided in this agreement, all notices required to be sent to you will be effective when we mail or deliver them to the last known address that we have for you in our records or when we make such notices available to you through electronic means. All notices and communications sent by you to us will be effective when we have received them and have had a reasonable time to act on them.

You agree to notify us promptly of any change in your mailing address, e-mail address or telephone number and name.  Changes can be made online or by contacting our Client Care Center via phone by dialing

Within the U.S. 786-552-0524 or 1-888-228-1597

Dialing from Venezuela 0-800-122-8226

Electronic Disclosures

We may deliver amendments to this Agreement and other disclosures to you in an electronic format. Other disclosures may include:

• Monthly account statements
• Deposit account disclosures
• Notices regarding changes in account terms and fees
• Privacy notices

The equipment necessary for accessing these types of disclosures electronically is described above.

WITH YOUR ACCEPTANCE BELOW, YOU AGREE TO ACCEPT THIS AGREEMENT AND OTHER INTERNET BANKING RELATED DISCLOSURES IN AN ELECTRONIC FORMAT.  YOU ALSO AGREE AND REPRESENT THAT YOU HAVE THE NECESSARY EQUIPMENT FOR ACCESSING THE INTERNET BANKING SERVICE AND FOR VIEWING ELECTRONIC DISCLOSURES.

If you consent to receive electronic disclosures and later change your mind, you may withdraw your consent and change to paper delivery format.  You can notify us of your intent to cancel electronic disclosures by:

• Sending us a letter to 9500 NW 41 Street, Doral, FL 33178,
• Sending us a secure message through the Online Banking Service, or
• Contacting us at this phone number:  Within the U.S. 786-552-0524 or 1-888-228-1597/ Dialing from Venezuela 0-800-122-8226

If you send us a secure message through the Online Banking Service or write us a letter, please be sure to identify yourself and the applicable accounts.

As part of the enrollment process, we may ask if you want to receive electronic only versions of your account statements (e-statements). If you enroll for e-statements and then later decide that you want to receive paper statements, you can “opt-out” of electronic delivery on the “Statements” page within the Online Banking Service. After your opt-out request is processed, you will begin receiving paper copies of account statements and additional charges may apply.

If you enroll for e-statements and then later close your accounts with Banesco USA, your access to the Internet banking Service will also be terminated.  You may request paper copies of historical statements at the address listed above.

You should print or save a copy of all disclosures delivered electronically. Internet banking customers may request paper copies of disclosures such as this Internet Banking Agreement free of charge.

Recording

You agree that we may tape record any telephone conversations you have with us regarding the services covered by this agreement. However, we are not obligated to do so and may choose not to in our sole discretion.

Attorney Fees

If we become involved in legal action to defend or enforce this agreement, you agree to pay our reasonable attorney fees and court costs, to the extent not prohibited by law.

Law That Applies

Regardless of where you live or work or where you access our Online Banking service, this agreement is subject to the federal law of the United States of America the internal law of the State of Florida. If any of the terms of this agreement cannot be legally enforced, they will be considered changed to the extent necessary to comply with applicable law.

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THE FOLLOWING SPECIAL PROVISIONS APPLY ONLY TO BUSINESS ENTITIES OR INDIVIDUALS PERFORMING TRANSACTIONS FROM BUSINESS ACCOUNTS:

Company Representative If You Are a Business Entity

If you are a corporation, partnership, limited liability company, association or some other form of business entity, we will issue one set of access codes to a company representative. It is your responsibility to ensure that access codes are provided only to persons you authorize. You represent to us that each company representative and anyone else using your access codes has general authority from your company to give us instructions to perform transactions using our Online Banking service.

Each person using your access codes will have the ability to:

• Make transfers from qualifying accounts, regardless of the dollar amount of the transaction.
• Make transfers regardless of whether he/she is otherwise an authorized signer or an obligor on any accounts that are accessed.
• Obtain information that we make available about qualifying accounts.
• Obtain other services or perform other transactions that we authorize or allow.
• Allow anyone else to use those access codes to make transfers or obtain information or other services.

Your Liability for Transactions From Business Accounts

You are liable for all transactions that you make or authorize, even if the person you authorize exceeds your authority. If you or a company representative has given someone your access codes and want to terminate that person’s authority, you must notify us that transactions by such a person are no longer authorized.  You can terminate granted access codes yourself.  You may call a branch representative for assistance with terminating an authorized user or company representative. We may have to change your access codes or take additional steps to prevent further access by such person.

Our system supporting our Online Banking service is designed so that it may be operated only upon entry of valid access codes. Since we condition access upon entry of valid access codes, we will accept instructions for transfers or other transactions from any person using valid access codes. This is so even if the person obtaining access:

• Is not a company representative.
• Exceeds your authority or that granted by any company representative.
• Does not have your authority.
• Has had his/her authority changed or revoked.
• Is an imposter or thief.

You agree to be bound by all transactions from any business account for which valid access codes were used. You authorize us to treat any instructions we receive using valid access codes as if the instructions had been made in writing and signed by the appropriate company representative. Unless there is substantial evidence to the contrary, our records will be conclusive regarding any access to, or action taken through, our Online Banking service.

Notwithstanding the foregoing, we agree that you will not be responsible for transactions which occur after you have notified us to block the access codes that were used to perform the transaction, and we have had a reasonable opportunity to do so. Thus, the sooner you notify us of a problem, the better you can keep your losses down. (See the section under Notify us IMMEDIATELY for Unauthorized Transactions.)

You agree to promptly examine all account statements and any confirmations of transfers which we or other financial Institutions may send or make available to you, and to promptly notify us of any discrepancy or error within 30 days of receipt of any such statement or confirmation.

You may call or write:

Client Care Center

Within the U.S. 786-552-0524 or 1-888-228-1597

Dialing from Venezuela 0-800-122-8226

Mailing Address:

Banesco USA

Attn: Client Care Center

3155 NW 77th Ave

Miami, FL 33122

As soon as you can, if you think your statement is wrong or if you need more information about a transfer covered by this agreement which is listed on the statement.

Limitations on Our Liability in Connection with Business Accounts

We will make every reasonable effort to provide full performance of our Online Banking system, and on a timely basis to resolve disputes that may arise. We will only be responsible for acting on instructions that we actually receive. We cannot assume responsibility for any malfunctions or capacity reductions or other problems in your equipment or in public communications networks not under our control that may affect the accuracy or timeliness of transactions you perform. Our only liability is to correct errors within our control. We are not responsible or liable to you for any loss, damage or injury caused by our Online Banking system. Neither will we be liable for any consequential, incidental, special, indirect or punitive loss or damage, including but not limited to dishonor of checks or other items or expenses which you may incur or suffer by reason of this agreement or the services we provide, whether or not the possibility or likelihood of such loss, damage, or expense is known to us.

WE MAKE NO WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE SERVICES WE PROVIDE YOU UNDER THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

Signature Requirements

When any online transfer, wire transfer request or other Payment Instruction is initiated through the Internet Banking Service for your benefit, you agree that we may debit the designated Eligible Accounts without requiring your signature on the item and without any notice to you.

Requirements for dual signatures on accounts, if applicable, do NOT apply to Bill Payments or other transfers/transactions initiated through the Online Banking Service.

Authorized Users of Business Customers that may be assigned payment or transactional capabilities through the Online Banking Service should be authorized by the Business Customer to make or approve electronic transfers, even though that person’s authority to make transfers by other means may still require dual signatures.

If Authorized Users are not authorized persons on the signature card for each Linked Account, the Business Customer account owner(s) has the obligation to inform Banesco USA of the new individual or individuals with such authority. Such notice must be given to Banesco by calling us at 786-552-0524. You may also write us at 9500 NW 41 St., Doral, FL 33178.

Other Services

We may provide you other services through our on-line banking platform which are not covered under this agreement.  These services will have a separate agreement with specific terms and conditions.
Security Procedures

By entering into this agreement and using our Online Banking service to perform transactions from business accounts, you agree to comply with all of our present and future security procedures with respect to transactions and services covered by this agreement. This includes, but is not limited to, protection of access codes and other personal and business information. Our security procedures are contained in this agreement and in other written procedures we may provide to you.

You acknowledge receiving a copy in writing of our current security procedures in this agreement and other documents we may provide to you. You agree that our current security procedures are commercially reasonable in the context of your business operations. We may at any time change our security procedures. We may advise you of such changes to the extent they affect your use of transactions and services under this agreement, but failure to do so will not affect your obligations or our rights. You agree to give all of our security procedures the highest level of confidentiality and to ensure that no access codes are used by or accessible to anyone other than persons you have authorized.

Notwithstanding any security procedure which may from time to time be in effect for detecting errors in transactions covered by this agreement, we have no duty to discover or report to you any such errors. Neither shall we be liable to you for the failure of such security procedure to detect such errors, regardless of the manner in which we apply such security procedures.

Indemnification

Business Customer(s) and its Authorized Users will defend, indemnify and hold harmless Banesco USA and its Service Providers against and in respect to any and all loss, liability, expense and damage, including consequential, special and punitive damages, directly or indirectly resulting from:

• the processing of any request received by Banesco USA through the Internet Banking Service,
• any breach of the provisions of this Agreement
• any request for stop payment;
• any dispute between you and any third party in connection with the use of the Internet Banking Service; and
• any and all actions, suits, proceeding, claims, demands, judgments, costs and expenses (including attorney’s fees) incident to the foregoing.  The terms of this section will survive termination of this Agreement.

END OF SPECIAL PROVISIONS THAT APPLY ONLY TO BUSINESS ENTITIES OR INDIVIDUALS PERFORMING TRANSACTIONS FROM BUSINESS ACCOUNTS

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Accepting the Agreement

After you have carefully read this Agreement in its entirety, you will be asked to accept the terms and conditions of this Agreement.

ONCE YOU ACCEPT THE TERMS AND CONDITIONS, YOU AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT, ALSO, BY ACCEPTING THIS AGREEMENT, YOU REPRESENT AND WARRANT THAT YOU ARE AN AUTHORIZED USER ACTING WITH FULL AUTHORITY AND THAT YOU ARE DULY AUTHORIZED TO EXECUTE THIS AGREEMENT. IF YOU DO NOT AGREE TO THE TERMS OF THIS AGREEMENT AND/OR DO NOT ACCEPT THE ELECTRONIC VERSION OF THIS DOCUMENT, SELECT THE CANCEL BUTTON.

You should print and/or save a copy of this Agreement for your records. Future updates will be sent electronically. To save a copy of this Agreement on your computer, select “File” and then “Save As” on your browser.

If you need a paper copy of this Agreement, please contact our Client Care Center. You can obtain a paper copy of this Agreement at any time.  Updates to this Agreement will be sent electronically as further described within this Agreement.

Your electronic consent or use of our Online Banking service has the same effect as if you had signed this agreement with your physical signature or that of your authorized company representative.

Your physical signature, electronic consent, or use of our Online Banking service is also your acknowledgement that you have received a copy of this agreement in paper form, or if you have provided a separate electronic consent, in electronic form. If you are offered or provided an electronic copy of this agreement but would like to have a paper copy, please contact us by calling or writing:

Client Care Center

Within the U.S. 786-552-0524 or 1-888-228-1597

Dialing from Venezuela 0-800-122-8226

Mailing Address:

Banesco USA

Attn: Client Care Center

3155 NW 77th Ave

Miami, FL 33122

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BILL PAY TERMS OF SERVICE

 SERVICE ADDENDUM TO ONLINE BANKING SERVICES AGREEMENT

Together with the Online Banking Services agreement (Agreement), which continues to apply and is hereby ratified, confirmed and deemed incorporated herein, this addendum (Bill Pay Terms of Service) supplements said Agreement. The Agreement and Addendum describe both Banesco USA (Banesco USA or Bank) and your rights and obligations when using the Bill Pay Services (Bill Pay Service) and represents your acceptance of the conditions.

Bill Payment Scheduling

The earliest possible Scheduled Payment Date for each Biller (typically four (4) or fewer Business Days from the current date) will be designated within the Service when you are scheduling the Bill Payment.  Therefore, the Service will not permit you to select a Scheduled Payment Date less than the earliest possible Scheduled Payment Date designated for each Biller.

When scheduling Bill Payments you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your Biller statement unless the Due Date falls on a non-Business Day.  If the actual Due Date falls on a non-Business Day, you must select a Scheduled Payment Date that is at least one (1) Business Day before the actual Due Date.  Scheduled Payment Dates must be prior to any late date or grace period.

The Bill Payment Service Guarantee

Due to circumstances beyond the control of the Service, particularly delays in handling and posting payments by Billers or financial institutions, some transactions may take longer to be credited to your account.  Except as expressly stated otherwise within this Agreement, Banesco USA and/or its Service Providers will bear the responsibility for any late payment related charges up to $50.00 should a Bill Payment post after its Due Date as long as the payment was scheduled in accordance with the guidelines described under Bill Payment Scheduling in this Agreement.

Payment Authorization and Payment Remittance

By providing the Service with names and account information of Billers to whom you wish to direct payments, you authorize us to follow the Payment Instructions received through the Service.  In order to process payments more efficiently and effectively, our Service Provider may edit or alter payment data or data formats in accordance with Biller directives.

When the Service receives a Payment Instruction, you authorize our Bill Payment Service Provider to debit your Payment Account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment Date designated by you.  You also authorize our Service Provider to credit your Payment Account for payments returned to the Service by the United States Postal Service or Biller, or payments remitted to you on behalf of another Authorized User of the Service.

 Payment Methods 

Our Bill Payment Service Provider reserves the right to select the method in which to remit funds on your behalf to your Biller. These payment methods may include, but may not be limited to, an electronic payment, an electronic to check payment, or a Laser Draft Payment.

Payment Cancellation Requests

You may cancel or edit any Scheduled Payment (if processing has not begun) by following the directions within the Service.  There is no charge for canceling or editing a Scheduled Payment.  However, once the Service has begun processing a Scheduled Payment it cannot be cancelled or edited, therefore a stop payment request must be submitted, as described within this Agreement.

Bill Payment Stop Payment Requests 

You may cancel or edit a Scheduled Payment up until the time that payment processing begins.  There is no charge for canceling or editing a Scheduled Payment.  However, once the Service has begun processing a payment, it cannot be cancelled or edited, and a stop payment request must be submitted.

We must have a reasonable opportunity to act upon any stop payment request made after payment processing has begun.  The ability of Banesco USA and its Service Provider to process a stop payment on a Bill Payment request that is already in process will depend on the payment method and whether or not the payment has cleared.

If you need to place a stop payment request on any Bill Payment that has already been processed, you must contact our Customer Service department immediately by phone at 786-552-0524 /1-888-228-159, or 0-800-122-8226 if dialing from Venezuela. We will make every effort to accommodate your request, but we will have no liability for failing to do so unless the request is subject to the provisions contained in your depository account agreement or applicable law as it pertains to pre-authorized EFTs.

We may also require you to present your stop payment request in writing within fourteen (14) days from the date the request is made.  The charge for each stop payment request will be the current charge for such service as set forth in our applicable fee schedule.

If we complete a stop payment request on your behalf, Bill Payment privileges may be suspended pending recovery of funds by our Service Provider(s).

Returned Payments

In using the Service, you understand that Billers and/or the United States Postal Service may return Bill Payments to our Service Provider for various reasons such as, but not limited to, Biller forwarding address expired; Biller account number is not valid; Biller is unable to locate account; or Biller account is paid in full.  Our Service Provider will use its best efforts to research and correct the returned payment and return it to your Biller, or void the payment and credit your Payment Account.  You may receive notification from the Service of returned payments.

Bill Payment Information Authorization 

Requests for Bill Payment privileges may not be fulfilled if Banesco USA and/or its Service Provider(s) cannot verify your identity and withdrawal authority over the specified accounts. Through your enrollment in the Bill Payment Service; you agree that Banesco USA and its Service Providers reserve the right to request a review of your credit rating at our own expense through an authorized bureau.  In addition, you agree that Banesco USA and its Service Providers reserve the right to obtain financial information regarding your account from a Biller or your Financial Institution (for example, to resolve payment posting problems or for verification).

Prohibited Payments

Payments to Billers outside of the United States or its territories are prohibited through the Service.  Payments to Internet gambling sites are also prohibited through the Service.

Exception Payments

Tax payments and court ordered payments may be scheduled through the Service; however, such payments are discouraged and are scheduled at your own risk.  In no event shall Banesco USA or its Service Provider(s) be liable for any claims or damages resulting from your scheduling of these types of payments.  The Bill Payment Service Guarantee as it applies to any late payment related charges is void when these types of payments are scheduled and/or processed by the Service.  Research of exception payments shall be limited to proof of payment and/or unauthorized payments only.  All other research and resolution for any misapplied, mis-posted or misdirected exception payments will be your sole responsibility.

Biller Limitation

We reserve the right to refuse to pay any Biller to whom you may direct a payment.  The Service will notify you promptly if it decides to refuse to pay a Biller designated by you.  This notification is not required if you attempt to make a prohibited payment or an exception payment under this Agreement.

Failed Transactions

In using the Service, you are requesting us to make payments for you from your Payment Account.  If we are unable to complete the transaction for any reason associated with your Payment Account (for example, there are insufficient funds in your Payment Account to cover the transaction), the transaction will not be completed.  In some instances, you will receive a return notice from the Service.  In such case, you agree that:

You will reimburse our Service Provider immediately upon demand the transaction amount that has been returned;

For any amount not reimbursed to the Service Provider within fifteen (15) days of the initial notification, a late charge may be assessed each month against unpaid amounts equal to 1.5% or the legal maximum, whichever rate is lower;

You will reimburse our Service Provider for any fees, it may incur in attempting to collect the amount of the return from you; and

Our Service Provider is authorized to report the facts concerning the return to any credit- reporting agency.

Bill Delivery and Presentment

This feature is for the presentment of electronic bills only and it is your sole responsibility to contact your Billers directly if you do not receive your statements.  In addition, if you elect to activate one of the Bill Payment Service electronic bill options, you also agree to the following:

Information Provided to the Biller

We are unable to update or change your personal or business information such as, but not limited to, name, address, phone numbers and e-mail addresses, with the electronic Biller.  Any changes will need to be made by you; contact the Biller directly.  Additionally, it is your responsibility to maintain all usernames and passwords for all electronic Biller sites. You also agree not to use someone else s information to gain unauthorized access to another person s or company s bill.

Our Service Provider may, at the request of the Biller, provide to the Biller your e-mail address, Service address, or other data specifically requested by the Biller at the time of activating the electronic bill for that Biller, for purposes of the Biller informing you about Service and/or bill information.

Activation

Upon activation of the electronic bill feature, our Service Provider may notify the Biller of your request to receive electronic billing information.  The presentment of your first electronic bill may vary from Biller to Biller and may take up to sixty (60) days, depending on the billing cycle of each Biller.  Additionally, the ability to receive a paper copy of your statement(s) is at the sole discretion of the Biller.  While your electronic bill feature is being activated it is your responsibility to keep your accounts current.  Each electronic Biller reserves the right to accept or deny your request to receive electronic bills.

Notification

Our Bill Payment Service Provider will use its best efforts to present all of your electronic bills promptly.  In addition to notification within the Service, our Service Provider may send an e-mail notification to the e-mail address listed for your account.  It is your sole responsibility to ensure that this information is accurate.  In the event you do not receive notification, it is your responsibility to periodically logon to the Service and check on the delivery of new electronic bills.  The time for notification may vary from Biller to Biller.  You are responsible for ensuring timely payment of all bills.

Cancellation of Electronic Bill Notification

The electronic Biller reserves the right to cancel the presentment of electronic bills at any time.  You may also cancel electronic bill presentment at any time.  The timeframe for cancellation of your electronic bill presentment may vary from Biller to Biller.  It may take up to sixty (60) days, depending on the billing cycle of each Biller.  Our Bill Payment Service Provider will notify your electronic Biller(s) as to the change in status of your account and it is your sole responsibility to make arrangements for an alternative form of bill delivery.  We will not be responsible for presenting any electronic bills that are already in process at the time of cancellation.

Non-Delivery of Electronic Bill(s)

You agree to hold harmless, Banesco USA and its Service Providers should the Biller fail to deliver your statement(s).  You are responsible for ensuring timely payment of all bills.  Copies of previously delivered bills must be requested from the Biller directly.

Accuracy and Dispute of Electronic Bill

Neither Banesco USA, nor its Service Providers are responsible for the accuracy of your electronic bill(s). Banesco USA and its Service Providers are only responsible for presenting the information received from the Biller.  Any discrepancies or disputes regarding the accuracy of your electronic bill summary or detail must be addressed with the Biller directly.

This Agreement does not alter your liability or obligations that currently exist between you and your Billers.