Text Size:   

Terms of Use

THESE TERMS GOVERN THE USE OF THIS WEBSITE. PLEASE READ THEM CAREFULLY BEFORE ACCESSING THE SITE. IF YOU DO NOT AGREE WITH THESE TERMS DO NOT ACCESS THE WEBSITE. BY ACCESSING THE WEBSITE OR ANY OF ITS PAGES YOU AGREE TO BE BOUND BY THESE TERMS OF USE.

This website has been established by the Bank for the sole purpose of conveying information about the Bank’s products and services and to allow communication between the Bank and its customers. Information that appears on this website should be considered an advertisement. Nothing contained in any page on this site takes the place of the bank’s agreements and disclosures that govern its products and services. If any information on the site conflicts with that in the bank’s agreements and disclosures, the agreements and disclosures will control.

From time to time the Bank may place links to other websites on this page. The Bank has no control over any other website and is not responsible for the content on any site other than this one. Users assume all responsibility when they go to other sites via the links on this page.

The information and materials contained in this website are owned by the Bank or by others, as applicable. No material may be copied, displayed, transmitted, distributed, framed, sold, stored for use, downloaded, or otherwise reproduced except as permitted by law.

The Bank makes no warranties of any kind regarding the products and services advertised on this site. The Bank will use reasonable efforts to ensure that all information displayed is accurate; however, the Bank expressly disclaims any representation and warranty, express and implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, suitability, and the ability to use the site without contracting a computer virus. The Bank is not responsible for any loss, damage, expense, or penalty (either in tort, contract, or otherwise), including direct, indirect, consequential and incidental damages, that result from the access of or use of this site. This limitation includes, but is not limited to the omission of information, the failure of equipment, the delay or inability to receive or transmit information, the delay or inability to print information, the transmission of any computer virus, or the transmission of any other malicious or disabling code or procedure. This limitation applies even if the Bank has been informed of the possibility of such loss or damage.

This agreement may be changed from time to time by posting the new Terms of Use on the website. All users agree to be subject to this agreement as it changes from time to time.

This agreement and the use of this website are governed by the laws of the State of New York.


Bank of Akron Online BankingService Agreement

Copyright 2001 Hodgson Russ LLP

1. Meaning of some words. In this agreement, (a) "we," "us," "our" and "ours" mean Bank of Akron, 46 Main Street, Akron, NY 14001, (b) "you" and "your" mean anyone who registers with us to use our online banking service, (c) "your accessible deposit accounts" means all deposit accounts with us that are approved by us as deposit accounts accessible by you for transactions through our online banking service, (d) "your accessible line of credit accounts" means all line of credit accounts with us that are approved by us as line of credit accounts accessible by you for transactions through our online banking service, (e) "your accessible loan accounts" means all your accessible line of credit accounts and all other loan accounts with us that are approved by us as loan accounts accessible by you for transactions through our online banking service, (f) "your viewable accounts" means all of your accessible deposit accounts, all of your accessible loan accounts and all other deposit accounts and line of credit or other loan accounts with us that are approved by us as deposit accounts or line of credit or other loan accounts accessible by you for information through our online banking service, (g) "your primary account" means, if you enroll in the bill payment feature of our online banking service, the deposit account with us that is approved by us for use in the payment of bills through the bill payment feature, (h) "the processor" means the processor that provides services to us in connection with the bill payment feature of our online banking service, and (i) "your access code" means the access code initially assigned to you by us or subsequently chosen by you for use with our online banking service.

2. Computer, related equipment and software. The installation, maintenance, operation and use of the computer, related equipment (for example, modem, telephone or other telecommunications equipment) and software you use for our online banking service are your responsibility. EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT OR TO THE EXTENT APPLICABLE LAW REQUIRES A DIFFERENT STANDARD, WE WILL NOT BE RESPONSIBLE FOR ANY LIABILITY, LOSS, INJURY OR DAMAGE (WHETHER DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE) IN ANY WAY ARISING OUT OF (A) ANY ERROR IN THE INSTALLATION, MAINTENANCE, OPERATION OR USE, OR ANY CONFIGURATION PROBLEM OR INCOMPATIBILITY, OF THE COMPUTER, RELATED EQUIPMENT OR SOFTWARE, (B) ANY FAILURE OR MALFUNCTION OF THE COMPUTER, RELATED EQUIPMENT OR SOFTWARE, (C) ANY FAILURE OR MALFUNCTION OF, OR ANY COMPROMISE OF DATA SENT USING, ANY TELEPHONE, INTERNET ACCESS OR OTHER SERVICE YOU USE TO CONNECT TO OUR online banking SERVICE, (D) ANY VIRUS OR SIMILAR PROBLEM RESULTING FROM THE USE OF OUR online banking SERVICE OR (E) ANY FEATURE OR FUNCTION OF ANY OF THE SOFTWARE THAT IS NOT INVOLVED WITH OUR online banking SERVICE (FOR EXAMPLE, HOME BUDGETING). 

3. Your access code. Your access code will be used to initiate orders and requests described in Sections 6, 7 and 8 through our online banking service. We will assign an initial access code to you, but you will be required to choose a new access code for use with our online banking service. You should not choose as the new access code any personal identification number for any electronic banking card that can be used to obtain access to any of your accessible deposit accounts. You should not allow anyone else to have your access code unless you authorize him or her to use our online banking service in any way described in Section 6, 7, 8 or 11. You should keep your access code confidential and in a secure location separate from the computer, related equipment and software you use for our online banking service. For reasons of security, the processor or we can cancel the effectiveness of your access code at any time without giving you any notice that it is or we are going to do so.

4. Your responsibility for transactions. You will be responsible for each transfer of funds or payment ordered by any order described in Section 6, 7 or 8 that is given through our online banking service by anyone else you allow to have your access code or to use our online banking service in any way described in Section 6, 7, 8 or 11, and the transfer or payment will be covered by this agreement as though the order had been given by you.

5. Features of online banking service. Our online banking service has three features: a home banking feature, a bill payment feature and an account to account transfer  feature.

6. Home banking feature. Subject to the provisions of this agreement, the home banking feature of our online banking service can be used to (a) give an order to us to make a non-recurring transfer of funds in the "Now" mode (i) from any of your accessible deposit accounts to any other of your accessible deposit accounts or any of your accessible loan accounts or (ii) from any of your accessible line of credit accounts to any other of your accessible loan accounts or any of your accessible deposit accounts, (b) give an order to us to make a non-recurring transfer of funds in the "Future" mode (i) from any of your accessible deposit accounts to any other of your accessible deposit accounts or any of your accessible loan accounts or (ii) from any of your accessible line of credit accounts to any other of your accessible loan accounts or any of your accessible deposit accounts, (c) give an order to us to make a series of recurring transfers of funds of the same amount in the "Recurring" mode (i) from any of your accessible deposit accounts to any other of your accessible deposit accounts or any of your accessible loan accounts or (ii) from any of your accessible line of credit accounts to any other of your accessible loan accounts or any of your accessible deposit accounts, (d) give an order to us changing or canceling an order described in clause (b) of this sentence that was previously given through the home banking feature, (e) give an order to us changing or canceling as to future transfers an order described in clause (c) of this sentence that was previously given through the home banking feature and (f) make a request to us for information available through the home banking feature concerning any of your viewable accounts.

7. Bill payment feature. Subject to the provisions of this agreement, the bill payment feature of our online banking service can be used to (a) give an order to us to make a non-recurring payment from your primary account, (b) give an order to us to make a series of recurring payments of the same amount from your primary account, (c) give an order to us changing or canceling an order described in clause (a) of this sentence that was previously given through the bill payment feature, (d) give an order to us canceling as to the next payment or all future payments an order described in clause (b) of this sentence that was previously given through the bill payment feature and (e) make a request to us for information available through the bill payment feature concerning payments from your primary account made through the bill payment feature. Any payment from your primary account made through the bill payment feature will be made by either an electronic transfer of funds to the payee of the payment or the sending of a check to the payee. Because the payee of a payment from your primary account made through the bill payment feature will not receive a payment stub with the payment and because the payee may process payments made without a payment stub at a different location than is normally the case or may take longer than is normally the case to process those payments, it may be advisable for you to verify with the payee the address to which the payment should be sent and the period of time required for the posting of the payment.

8. Bond purchase feature. Subject to the provisions of this agreement, the bond purchase feature of our online banking service can be used to give an order to us to purchase for you a United States savings bond and to make a nonrecurring transfer of funds from any of your accessible deposit accounts or any of your accessible line of credit accounts to pay for the savings bond.

9. Processing, charging and cancellation of orders. The following rules apply to the processing, charging and cancellation of orders described in Section 6, 7 and 8 that are given through our online banking service:

a.)  If an order to make a non-recurring transfer of funds is given in the "Now" mode through the home banking feature of our online banking service, (i) the transfer will be scheduled to be made on (A) the day we receive the order if that day is a business day of ours and we receive the order no later than 5:00 p.m. eastern United States time that day or (B) our first business day after that day if that day is not a business day of ours or we receive the order after 5:00 p.m. eastern United States time that day, (ii) the transfer can be charged as early as the day we receive the order against the account from which it is to be made, and (iii) the order cannot be canceled.

b.)  If an order to make a non-recurring transfer of funds is given in the "Future" mode through the home banking feature of our online banking service, (i) the order must schedule the transfer to be made on a date later than the day we receive the order, (ii) that date cannot be more than one year after the day after the day we receive the order, (iii) the transfer will be scheduled to be made on that date unless that date is not a business day of ours, in which case it will be scheduled to be made on our first business day after that date, (iv) the transfer can be charged as early as the date on which it is scheduled to be made against the account from which it is to be made, and (v) the order cannot be canceled after 5:00 p.m. eastern United States time on the date on which the transfer is scheduled to be made.

c.)  If an order to make a series of recurring transfers of funds is given in the "Recurring" mode through the home banking feature of our online banking service, (i) the transfers ordered by the order must be equal in amount, regular in frequency (weekly, bi-weekly, monthly or quarterly) and scheduled to begin on a specified date after the day we receive the order, (ii) each of the transfers will be scheduled to be made on the date it is scheduled to be made according to the order unless that date is not a business day of ours, in which case it will be scheduled to be made on our first business day after that date, (iii) each of the transfers can be charged as early as the date on which it is scheduled to be made against the account from which it is to be made, and (iv) the order cannot be canceled with respect to any of the transfers after 5:00 p.m. eastern United States time on the date on which the transfer is scheduled to be made.

d.)  If an order to make a non-recurring payment is given through the bill payment feature of our online banking service, (i) the payment ordered by the order must be scheduled to be made on a specified date after the day we receive the order, (ii) the payment will be scheduled to be made on the date it is scheduled to be made according to the order unless that date is not a business day of ours, in which case it will be scheduled to be made on our first business day after that date, (iii) the payment can be charged against your primary account as early as the date on which it is scheduled to be made, and (iv) the order cannot be canceled after midnight eastern United States time on the day before the date on which the payment is scheduled to be made.

e.)  If an order to make a series of recurring payments is given through the bill payment feature of our online banking service, (i) the payments ordered by the order must be equal in amount, regular in frequency (weekly, bi-weekly, monthly or quarterly) and scheduled to begin on a specified date after the day we receive the order, (ii) each of the payments will be scheduled to be made on the date it is scheduled to be made according to the order unless that date is not a business day of ours, in which case it will be scheduled to be made on our first business day after that date, (iii) each of the payments can be charged against your primary account as early as the date on which it is scheduled to be made, and (iv) the order cannot be canceled with respect to any of the payments after midnight eastern United States time on the day before the date on which the payment is scheduled to be made.

f.)  If an order to purchase a bond is given through the bond purchase feature of our online banking service, (i) the transfer of funds to pay for the savings bond can be charged as early as the date on which the order is given against the account from which the transfer is to be made, and (ii) the order cannot be canceled.

10. Limitations and other rules applicable to transfers of funds and payments. The following limitations and other rules apply to transfers of funds and payments ordered by orders described in Sections 6, 7 and 8 that are given through our online banking service:a. No transfer of funds or payment can be ordered through our online banking service if you do not have an unrestricted right to withdraw funds from the account from which the transfer or payment is to be made (for example, if two or more persons are required to sign a check written on the account or a withdrawal form for the account).

a.)  Any transfer of funds or payment ordered through our online banking service will be subject to the funds being available for withdrawal from the account from which the transfer or payment is to be made when the order to make the transfer or payment is to be charged against the account with respect to the transfer or payment.

b.)  If, when any order to make a transfer of funds or payment given through our online banking service is to be charged with respect to the transfer or payment against the account from which the transfer or payment is to be made, the amount of the transfer or payment exceeds the amount of money available for withdrawal from the account (taking into consideration, if the account is tied to a line of credit account with us, the amount of credit available under the line of credit account), we can either (i) make the transfer or payment, in which case you will be liable for the excess, or (ii) refuse to make the transfer or payment. In either case, you will be liable for any fee applicable to the withdrawal or attempted withdrawal of money from the account in excess of the amount of money available for withdrawal from the account. But, if we refuse to make the transfer or payment, we can, but we will not have to, attempt to make it on a later business day of ours.

c.)  For reasons of security, we can, at any time and without giving you any notice that we are going to do so, refuse to honor any order to make a transfer of funds or payment given through our online banking service. For example, we can do so if, for reasons of security, we believe that it is advisable to limit the dollar amount or frequency of transfers of funds or payments ordered through our online banking service.

d.)  We can, at any time and without giving you any notice that we are going to do so, refuse to honor any order to make a transfer of funds or payment given through our online banking service if the order reasonably appears to us to be fraudulent or erroneous.

e.)  If an order to make a transfer of funds or payment given through our online banking service contains an inconsistency in the name and account or other identifying number of an account or payee, financial institution or other party, we can, but we will not have to, treat the number as controlling and rely on the number in processing the order.

f.)  An order to make a series of recurring transfers of funds or payments through our online banking service must not be given unless a printer or other means is available to obtain a printed copy of the authorization for the series of recurring transfers of funds or payments for your records.

g.)  If any of your accessible deposit accounts is a savings or money market deposit account for purposes of federal reserve requirements, during any calendar month or monthly period covered by any statement for the account that we send or deliver to you, there can be no more than six transfers of funds from the account that are (i) a transfer of funds to any other of your accessible deposit accounts ordered through the home banking feature of our online banking service, (ii) any other computer transfer of funds to any other of your accessible deposit accounts, any other deposit account with us or a third party, (iii) a preauthorized, automatic or telephonic transfer of funds to any other of your accessible deposit accounts, any other deposit account with us or a third party, (iv) a transfer of funds to a third party made by using an electronic banking card (for example, a transfer of funds to pay the purchase price of goods or services) or (v) a transfer of funds made by using a check, a draft or any other order payable to a third party.

h.)  The payee of any payment ordered through the bill payment feature of our online banking service (i) must be located in the United States, (ii) cannot be a governmental entity, (iii) cannot be receiving the payment under a court order and (iv) cannot be a party that we regard as ineligible for payment through the bill payment feature.

i.)  No payment can be ordered through the bill payment feature of our online banking service in other than United States funds.

j.)  You will be responsible for giving any order to make a payment through the bill payment feature of our online banking service in sufficient time for the order to be processed and the payment to be sent so that it is received by the payee of the payment by the date it is to become due without taking into consideration any grace period provided by the payee, and you will be responsible for any consequence of your not doing so (for example, any finance or late charge resulting from the payment being made late). Up to five of our business days after (i) the day we receive the order if that day is a business day of ours or (ii) our first business day after that day if that day is not a business day of ours will be necessary to allow for the processing of the order so that the payment is received by the payee by the date it is to become due.

k.)  We can, at any time and without giving you any notice that we are going to do so, refuse to honor any order to make a payment given through the bill payment feature of our online banking service if, because the order identifies the same payee, payment date and amount, it appears to duplicate another order to make a payment given through the bill payment feature.

11. Stopping payment of particular transfer of funds or payment. If an order to make a series of recurring transfers of funds or payments of the same amount is given through our online banking service, we can be ordered to stop any transfer or payment in the series by telephoning us at 716-542-5401 and asking for our Customer Service Department or writing us at Bank of Akron, 46 Main Street, Akron, NY 14001, Attention: Customer Service Department, in time for us to receive the order to stop the transfer or payment at least three of our business days before the date on which the transfer or payment is scheduled to be made. The order will not be binding on us with respect to the transfer or payment if we do not receive it at least three of our business days before the date on which the transfer or payment is scheduled to be made. However, even if we do not receive the order at least three of our business days before the date on which the transfer or payment is scheduled to be made, we can follow it even though it will not be binding on us. If we receive the order at least three of our business days before the date on which the transfer or payment is scheduled to be made, we will be liable to the extent provided by applicable law for damages you suffer as a result of our failure to comply with the order, but we will be liable for actual damages only and not consequential or punitive damages if the failure was not intentional and resulted from a bona fide error despite our maintenance of procedures reasonably adapted to avoid the error. If the order is not in writing, we can require you to provide a written confirmation of the order to us so that we receive the written confirmation within 14 days after the date the order is telephoned to us. In that case, the order will cease to be binding on us 14 days after the date it is telephoned to us unless we receive the written confirmation during the 14 days. However, even if we do not receive the written confirmation during the 14 days, we can continue to follow the order even though it is no longer binding on us. The order can be limited to a single transfer or payment in the series, or it can apply to all subsequent transfers or payments in the series. If it applies only to a single transfer or payment in the series, we can, but we will not have to, allow any other transfer or payment in the series. You will be liable in connection with the order for any fee applicable to the ordering of the stopping of a transfer of funds or payment from whichever of your accessible deposit accounts is the account from which the transfer or payment is to be made.

Account to Account transfers shall be limited in use to transfers only between liked named accounts at another financial institution.  The bank may, at its discretion limit or refuse to authorize any transaction.  Use of account to account transfers requires the user to be in good standing with the bank and you must exhibit the abiltiy to manage inter-financial institution transfers responsibly.  The bank reserves the right to eliminate this service from your service menu at its sole discretion.

12. Authorization and appointment as your agent. You authorize us and appoint us as your agent to take on your behalf any action we believe necessary or appropriate to implement any order described in Section 6, 7 or 8 that is given through our online banking service or to correct any error in crediting or charging any of your accessible deposit accounts or any of your accessible loan accounts in connection with any order described in Section 6, 7 or 8 that is given through our online banking service. For example, you authorize us and appoint us as your agent to on your behalf (a) withdraw money from any of your accessible deposit accounts and deposit the money in any other of your accessible deposit accounts in order to implement any order to make a transfer of funds from the first account to the other account given through the home banking feature of our online banking service, (b) withdraw money from any of your accessible deposit accounts and use the money to make any payment under any of your accessible loan accounts in order to implement any order to make a transfer of funds from the deposit account to the loan account given through the home banking feature, (c) obtain credit under any of your accessible line of credit accounts and deposit the proceeds of the credit in any of your accessible deposit accounts in order to implement any order to make a transfer of funds from the line of credit account to the deposit account given through the home banking feature, (d) obtain credit under any of your accessible line of credit accounts and use the proceeds of the credit to make any payment under any other of your accessible loan accounts in order to implement any order to make a transfer of funds from the line of credit account to the other loan account given through the home banking feature and (e) withdraw money from your primary account in order to implement any order to make a payment from your primary account given through the bill payment feature of our online banking service. Our withdrawal of money from any of your accessible deposit accounts or our obtaining of credit under any of your accessible line of credit accounts under the authority given and the appointment as your agent made in the first sentence of this section will be as effective as though you had signed a check or withdrawal form to make the withdrawal or to obtain the credit. In addition, you authorize the processor and appoint it as your agent to take on your behalf any action it believes necessary or appropriate to implement any order described in Section 7 that is given through the bill payment feature. For example, you authorize the processor and appoint it as your agent to on your behalf direct us to withdraw funds from your primary account in order to implement any order to us to make a payment from your primary account given through the bill payment feature.

13. Fees for bill payment feature. Bill payment service is FREE for Bank of Akron customers.

14. Fees. You must pay us each fee we impose for the use of our online banking service, and you authorize us to charge the fee against any of your accessible deposit accounts or any other deposit account you have with is now or in the future. We can at any time establish a new or change an existing fee for the use of our online banking service or any feature of our online banking service. If we establish a new fee or increase an existing fee for the use of our online banking service or any feature of our online banking service, we will send or deliver to you any notice of the new fee or increase that applicable law requires us to send or deliver to you. If applicable law does not require us to send or deliver any notice of the new fee or increase fee to you, we will send or deliver a notice of it to you at least 15 days before the date it takes effect. You must pay us the new fee or increased existing fee, and you authorize us to charge it against your primary account, any other of your accessible deposit accounts or any other deposit account you have with us now or in the future. We will not have to notify you if we decrease or eliminate an existing fee for the use of our online banking service or any feature of our online banking service.

15. Confirmation number. Upon our confirming any order to make a transfer of funds or payment given through our online banking service, we will provide to you through our online banking service a confirmation number for the order. The confirmation number, together with information contained in the order (for example, the amount of the transfer or payment, the date the transfer or payment is scheduled to be made and the account or payee to which the transfer or payment is to be made) will be useful in resolving any problem with the transfer or payment that may occur.

16. Statements and Notices. Approximately once a month, we will send or deliver to you a statement for each of your accessible deposit accounts that is a demand deposit or NOW account. Approximately once a month, we will either (i) send or deliver to you a statement for each of your accessible deposit accounts that is not a demand deposit or NOW account or (ii) review it and send or deliver a statement for it to you if any transaction has been credited to or charged against it since we last reviewed it. But in any event we will send or deliver a statement for it to you approximately once a quarter. Any statement for any of your accessible deposit accounts will show all transactions credited to or charged against it during the period covered by the statement.

By applying for electonic statements you agree to receive periodic deposit account statements in an electronic format.  Paper based statements will no longer be provided.  You may re-institute recipt of paper statements upon request.

16a. Agreeement to receive electronic statements includes agreement to receive  your annual Privacy notice electonically.  

17. Business days. Our business days are Monday through Friday, excluding legal holidays.

18. Notice of loss, theft, unauthorized use or error. If you believe that your access code has been lost or stolen, that any transaction involving any of your accessible deposit accounts may have been or may be made without your authorization or that we may have made an error with respect to any of your accessible deposit accounts, you must contact our Computer Department at once. You can do so by telephoning 716-542-5401 and asking for our Computer Department or writing Bank of Akron, 46 Main Street, Akron, NY 14001, Attention: Computer Department.

19. Your liability for unauthorized use. You may have to bear the loss of money taken from any of your accessible deposit accounts in any transaction or series of related transactions ordered through our online banking service by an order or orders initiated by the use of your access code without your authorization. How much of the loss you will have to bear will depend on when we are notified that your access code has been lost or stolen or that there are circumstances indicating that a transaction involving any of your accessible deposit accounts ordered through our online banking service has been or may be initiated by the use of your access code without your authorization. If we are notified within two of our business days after the date you learn of the loss, theft or possible unauthorized transaction, you will have to bear (subject to limitations under federal law) as much as $50 of the loss. If we are not notified within those two business days and we can show that we could have stopped the taking of the money had we been notified during those two business days, you will have to bear (subject to limitations under federal law) as much as $500 of the loss. In addition to any loss you must bear under the two preceding sentences, if any statement for any of your accessible deposit accounts that we send or deliver to you shows any transaction involving any of your accessible deposit accounts ordered through our online banking service by an order initiated by the use of your access code without your authorization, we are not notified of the unauthorized transaction within 60 days after the date we send or deliver the statement to you and we can show that we could have stopped the taking of the money had we been notified of the unauthorized transaction during those 60 days, you will have to bear (subject to limitations under federal law) all of the loss occurring after the end of those 60 days and before we are notified of the unauthorized transaction. For a good reason (such as a long trip or hospital stay by you), we will extend the periods of two of our business days and 60 days referred to in this section for a reasonable time.

20. Our liability for failure to make transfers of funds and payments. With exceptions, we will be liable to the extent provided by applicable law for damages you suffer as a result of our failure to make, on time and in the correct amount, any transfer of funds or payment ordered by a timely and properly initiated order to make the transfer or payment given through our online banking service. Whether the order is timely will be determined under Section 9 and paragraph k of Section 10. The order will not be properly initiated unless (a) the computer, related equipment and software you use for our online banking service and each telephone, internet access and other service you use to connect to our online banking service are properly functioning, (b) the instructions on how to give the order are properly followed, (c) the order is described in Section 6, 7 or 8 and is correct and complete (for example, if the order is to make a payment, the order includes the correct name and address of the payee of the payment, the correct account number of the account to which the payment is to be made and the correct amount of the payment) and (d) the transfer or payment would not be subject to any limitation referred to in Section 10. Examples of exceptions to our liability are as follows: (a) we do not receive the order; (b) before the order is to be charged against the account from which the transfer or payment is to be made, your right to use our online banking service or the feature of our online banking service involved in the transfer or payment is canceled; (c) when the order is processed or is to be charged against the account from which the transfer or payment is to be made, we in good faith believe that the order was given without your authorization (for example, because your access code has been reported as lost or stolen) or is fraudulent; (d) the order is to make a transfer of funds and, before the order is to be charged against the account from which the transfer is to be made, either that account or the account to which the transfer is to be made is closed; (e) the order is to make a payment and (i) we do not receive the order in time to allow us to make the payment and allow the payee of the payment to properly credit it by the date on which it is to become due, (ii) we make the payment in time to allow the payee of the payment to properly credit it by the date on which it is to become due but the payee fails to do so or (iii) before the order is to be charged against your primary account, your primary account is closed; (f) through no fault of ours, when the order is processed or is to be charged against the account from which the transfer or payment is to be made, the amount of the transfer or payment exceeds the amount of money available for withdrawal from the account (taking into consideration, if the account is tied to a line of credit account with us, the amount of credit available under the line of credit account); (g) when the order is processed or is to be charged against the account from which the transfer or payment is to be made, money in the account is subject to any legal process (for example, a tax levy, a subpoena or an order providing for restraint, attachment, garnishment or execution) or administrative hold restricting its removal from the account, is collateral for a loan or other extension of credit or is the subject of a dispute or legal proceeding; (h) when the order is given, our online banking service or the feature of our online banking service involved in the transfer or payment is unavailable because maintenance work is being performed on it; (i) we are prevented from making the transfer or payment by a technical malfunction and, when the order is given, the individual giving it knows that our online banking service or the feature of our online banking service involved in the transfer or payment is not functioning properly; (j) an occurrence beyond our control (for example, a fire, flood, failure or malfunction of equipment or loss or delay of mail by the postal service) prevents us from making the transfer or payment despite our exercise of reasonable care to prevent the occurrence and our exercise of diligence to make the transfer or payment despite the occurrence; and (k) our failure to make the transfer or payment is justified by any provision of this agreement, by any provision of any other agreement between you and us concerning any of your accessible deposit accounts, any of your accessible loan accounts or transfers of funds to or from any of your accessible deposit accounts or any of your accessible loan accounts or by applicable law. If we are liable for damages you suffer as a result of our failure to make the transfer or payment on time and in the correct amount, we will be liable for actual damages only and not consequential or punitive damages if the failure was not intentional and resulted from a bona fide error despite our maintenance of procedures reasonably adapted to avoid the error.

21. Disclosure. In the regular course of our business but not to the extent prohibited by applicable law, we will disclose information concerning any of your accessible deposit accounts or any transaction involving the account (a) in any receipt issued in connection with the transaction, (b) as necessary to complete the transaction or to resolve any error or dispute concerning the transaction, (c) in any statement for the account we send or deliver, (d) to someone in whose name the account is open, (e) in accordance with the written permission of someone in whose name the account is open, (f) to verify the existence and condition of the account or to report our experience concerning the account to a third party such as another financial institution, a credit reporting agency or a merchant, (g) to any affiliate of ours for the purpose of offering or providing any other product or service to you, (h) to any agent, contractor or vendor of ours for the purpose of providing any service to us in the regular course of our business or completing marketing activities of ours (for example, the processor or any other party providing any service to us in connection with our online banking service) or (i) to comply with applicable law, any order of any court or any order or request of any other governmental body.

22. Cancellation. You can cancel your right to use our online banking service or any feature of our online banking service at any time by notifying us in writing or a message sent to us through our online banking service. The cancellation will not take effect until we receive the notice and have a reasonable time to act on it. At any time, for any reason and without notifying you that we are going to do so, we can cancel your right to use our online banking service or any feature of our online banking service. The cancellation will take effect immediately unless we decide to have it take effect later. Once the cancellation by you or us of your right to use our online banking service or any feature of our online banking service takes effect, we can, but we will not have to, process any order described in Section 6, 7 or 8 that is given through our online banking service before the cancellation takes effect and would involve the use of a feature of our online banking service that your right to use has been canceled. The cancellation by you or us of your right to use our computer banking service or any feature of our online banking service will not affect any of your obligations under this agreement.

23. Messages sent through online banking service or electronic mail. We will not have to take any action based on any message sent to us through our online banking service or electronic mail until we receive and have a reasonable time to act on the message. Electronic mail must not be used to communicate to us urgent information (for example, a stop payment order, a report of a lost or stolen card or a report of an unauthorized transaction involving a deposit account or line of credit or other loan account).

24. Recording and obtaining of information. You consent to (a) the recording by the processor, any other party providing any service to us in connection with our online banking service or us of any information, notice, order or other communication sent through our online banking service or electronic mail (for example, a message sent to us through our online banking service or electronic mail) and (b) the obtaining by the processor or us from the payee of any payment that is ordered through the bill payment feature of our online banking service of any information that the processor considers or we consider necessary to complete the payment or to resolve any error concerning the payment.

25. Reasonable time to act. A reasonable time for us to act on any information, notice, order or other communication or document (for example, a message sent to us through our online banking service or electronic mail) will not end until at least the close of business on our first business day after our business day we receive the information, notice, order or other communication or document.

26. Notices and change of address. Any notice or other communication or document concerning this agreement or our online banking service we send you can be sent in any way not prohibited by applicable law (for example, in a message sent to you through our online banking service or electronic mail). If sent by mail, the notice or other communication or document will be sent to your current mailing address shown in our records concerning our online banking service and can be sent by regular mail. If your mailing address or electronic mail address changes, you must promptly notify us of the new address in writing or in a message sent to us through our online banking service. Except as otherwise provided in this agreement or by applicable law, (a) any notice or other communication or document concerning this agreement or our online banking service we send you will take effect when we send it, and (b) any notice or other communication or document concerning this agreement or our online banking service you send us must be in writing and sent by mail or courier or in a message sent to us through our online banking service and will not take effect until we receive it and have a reasonable time to act on it.

27. Changes in this agreement. No change in this agreement can be made except as provided in this section. We can change this agreement at any time. We will send or deliver to you any notice of the change that applicable law requires us to send or deliver to you. If applicable law does not require us to send or deliver any notice of the change to you, we will send or deliver a notice of it to you at least 15 days before the date it takes effect.

28. Changes in online banking service. We can change our online banking service at any time by adding, deleting or changing any feature of our online banking service. We will send or deliver to you any notice of the change that applicable law requires us to send or deliver to you. If applicable law does not require us to send or deliver any notice of the change to you, we will send or deliver a notice of it to you at least 15 days before the date it takes effect. By using any added or changed feature of our online banking service, you will be agreeing to be bound by all our requirements concerning the added or changed feature.

29. No notice or loss of rights. We can exercise, give up, fail to exercise or delay exercising any of our rights with respect to you or our online banking service without notifying you. By exercising, failing to exercise or delaying the exercise of any of the rights, we will not lose it or any other of the rights. By giving up any of the rights on any occasion, we will not lose it on any other occasion or lose any other of the rights.

30. Giving up of rights. None of our rights with respect to you or our online banking service can be given up by us except in a writing signed by us.

31. No transfer of rights and obligations. You cannot transfer any of your rights and obligations under this agreement or with respect to our online banking service to anyone else. Any transfer of any of the rights and obligations will be void.

32. Conflicts. If any part of this agreement conflicts with applicable law, the law will control, and this agreement will be considered changed to the extent necessary to comply with it.

33. Continued effectiveness. If any part of this agreement is determined by a court to be invalid, the rest of this agreement will remain in effect.

34. What law applies. Any legal question concerning this agreement or our online banking service will be decided in accordance with (a) New York State law without regard to the law of any other state and (b) to the extent applicable, federal law.

35. Entire agreement. Except for any agreement between you and us concerning any of your viewable accounts or transfers of funds to or from any of your accessible deposit accounts or any of your accessible loan accounts, this agreement is the final and complete agreement between you and us concerning our online banking service. If any part of any agreement described in the preceding sentence is incompatible with any part of this agreement, the part of this agreement will control. Any statement concerning our online banking service made by any of our employees or anyone else is not part of this agreement. This agreement replaces any other agreement now existing between you and us concerning our online banking service.

36. Acknowledgment and agreement. By registering with us to use our online banking service, using our online banking service in any way described in Section 6, 7 or 8 or allowing anyone else to have your access code or to use our online banking service in any way described in Section 6, 7 or 8, you (a) acknowledge that you have agreed that we may give you by electronic communication the disclosures relating to our online banking service required by federal law and (b) agree to be bound by all provisions of this agreement, all our requirements concerning our online banking service or any feature of our online banking service and all legal terms and conditions contained on the home page of our World Wide Web site.


In Case of Errors or Questions About Your Electronic Transfers:

Telephone us at 716-542-5401 and ask for our Customer Service Department
or
Write us at Bank of Akron, 46 Main Street, Akron, NY 14001,
Attention: Customer Service Department

as soon as you can, if you think that your statement is wrong or if you need more information about a transfer 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.

(1) Tell us your name and account number.

(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

(3) 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 within ten business days.

We will determine whether an error occurred within ten 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 credit your account within ten 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 ten business days, we may not credit your account. If the error involves an electronic transfer to or from your account within 30 days after the date the first deposit in your account was made, each ten-business day period referred to in this paragraph will be 20 business days, and the 45-day period referred to in this paragraph will be 90 days.

We will tell you the results within three business days after completing our investigation. If we decide there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.


COMMERCIAL CUSTOMER RIDER TO ONLINE BANKING SERVICE AGREEMENT

If a corporation, partnership, limited liability company or other organization registers with Bank of Akron to use its online banking service or an individual registers with Bank of Akron to use online banking but none of the deposit accounts approved by Bank of Akron as deposit accounts accessible by or on behalf of that individual through online banking is established primarily for personal, family or household purposes:

1. Clause (b) of Section 1 of the agreement is changed to read as follows:

  • "you" and "your" mean (i) any corporation, partnership, limited liability company or other organization that registers with us to use online banking or (ii) any individual who registers with us to use online banking if none of the deposit accounts with us that are approved by us as deposit accounts accessible by that individual for transactions through online banking is established primarily for personal, family or household purposes,


2. The second, third, fourth and fifth sentences of Section 3 of the agreement are changed to read as follows:

  • We will assign an initial access code to you, but you or any individual acting on your behalf in connection with online banking will be required to choose a new access code for use with online banking. Neither you nor any individual acting on your behalf in connection with online banking should choose as the new access code any personal identification number for any electronic banking card that can be used to obtain access to any of your accessible deposit accounts. Neither you nor any individual acting on your behalf in connection with online banking should allow anyone else to have your access code unless you authorize him or her to use online banking in any way described in Section 6, 7 or 8. You and each individual acting on your behalf in connection with online banking should keep your access code confidential and in a secure location separate from the computer, related equipment and software you use for online banking.

3. Section 4 of the agreement is changed to read as follows:

  • 4. Your responsibility for transactions. You will be responsible for each transfer of funds or payment ordered by any order described in Section 6, 7 or 8 that is given through online banking by any individual acting on your behalf in connection with online banking or anyone else you allow, or any individual acting on your behalf in connection with online banking allows, to have your access code or to use online banking in any way described in Section 6, 7 or 8, and the transfer or payment will be covered by this agreement as though the order had been given by you.

4. The fourth sentence of Section 11 of the agreement is deleted.

5. There is added to the agreement a new Section 11A reading as follows:

  • 11A. Security procedure. We can, but we will not have to, request you to try to reach an agreement with us on a security procedure to verify that any order described in Section 6, 7 or 8 that is given to us through online banking has been given by you or on your behalf. If we do so, you must try to reach an agreement with us on a security procedure for that purpose. If you cannot reach an agreement with us on a security procedure for that purpose and we offer you a security procedure for that purpose that is commercially reasonable for you, you must (a) choose a security procedure for that purpose and (b) acknowledge to us in writing that the security procedure chosen by you for that purpose was chosen by you after you refused the security procedure offered you by us for that purpose. We can, but we will not have to, agree with you on a security procedure to detect any error in the transmission or content of any order described in Section 6, 7 or 8 that is given through online banking. You and each individual acting on your behalf in connection with online banking must (a) keep confidential all information relating to any security procedure described in this section, (b) not reveal any of the information to anyone not authorized to use online banking in any way described in Section 6, 7 or 8 and (c) notify us of any unauthorized disclosure or use of any of the information. We can, but we will not have to, (a) monitor the use of any security procedure described in this section and (b) report any possible breach of the security procedure to you.

6. The first sentence of Section 13 of the agreement is changed read as follows:

  • Deleted

7. There is added to the agreement a new Section 13A reading as follows:

  • 13A. Indemnification. You must indemnify us against each liability, cost and expense (for example, if we hire an attorney for advice, litigation or any other purpose, reasonable attorneys' fees and disbursements) imposed on, incurred by or asserted against us as a direct or indirect result of accepting or following any order given to us through online banking.

8. Sections 16 and 17 of the agreement are deleted.

9. Section 18 of the agreement is changed to read as follows:

  • 18. Notice of loss, theft, unauthorized use or error. If you believe, or any individual acting on your behalf in connection with online banking believes, that your access code has been lost or stolen, that any transaction involving any of your accessible deposit accounts may have been or may be made without your authorization or that we may have made an error with respect to any of your accessible deposit accounts, you or that individual must contact our E Net Support Specialist at once. You can do so by telephoning 716-542-5401 and asking for our Customer Service Department or writing Bank of Akron, 46 Main Street, Akron, NY 14001, Attention: Customer Service Department. If any statement for any of your accessible deposit accounts that we send or deliver to you indicates that a transaction involving the account may have been made without your authorization during the period covered by the statement or that we may have made an error with respect to the account during that period, you will lose any right to make any claim against us based on the transaction or error unless you notify us in writing of the transaction or error within 14 days after the date we send or deliver the statement to you.

10. Section 19 of the agreement is changed to read as follows:

  • 19. Your liability for unauthorized use. How much you will have to bear of any loss of money taken from any of your deposit accounts in any transaction or series of transactions ordered through online banking by an order or orders initiated by the use of your access code will be determined by applicable law and any agreement between you and us concerning the account or transfers of funds from the account, but (a) in no event will we be liable to you for any loss of money taken from the account in any transaction or series of transactions ordered through online banking by an order or orders initiated by the use of your access code by anyone else you allow, or any individual acting on your behalf in connection with online banking allows, to have your access code, (b) in no event will we be liable to you for any loss of money taken from the account in any transaction or series of transactions ordered through online banking by an order or orders initiated by the use of your access code unless we fail to exercise ordinary care in processing the transaction or transactions and (c) in the case of any loss of money taken from the account in any transaction or series of transactions ordered through online banking by an order or orders initiated by the use of your access code, our liability will be limited to the amount of the transaction or transactions less any amount that, even with our exercise of ordinary care, would have been lost.

11. Section 20 of the agreement is changed as follows:

 a.)  The first sentence of the section is changed to read as follows:

  • Our liability for damages you suffer as a result of our failure to make, on time and in the correct amount, (a) any transfer of funds or payment ordered by a timely and properly initiated order to make the transfer given through online banking will be determined by applicable law and any agreement between you and us concerning the account or transfers of funds to or from the account, but in no event will we be liable to you for any damages (for example, consequential or punitive damages) in addition to actual damages.

b.)  In the fourth sentence of the section, the words "Examples of exceptions to our liability are as follows" are replaced with the words "Without limiting the first sentence of this section, in no event will we be liable to you if any of the following things happens".

c.)  Clause (k) of the fourth sentence of the section is changed to read as follows:

  • (k) our failure to make the transfer or payment is justified by any provision of this agreement, by any provision of any other agreement between you and us concerning any of your accessible deposit accounts, any of your accessible loan accounts or transfers of funds to or from any of your accessible deposit accounts or any of your accessible loan accounts, by any security procedure described in Section 11A or by applicable law.


d.)  The last sentence of the section is deleted.

12. There is added to the agreement a new Section 20A reading as follows:

  • 20A. Our liability for failure to comply with stop payment order. Our liability for damages you suffer as a result of our failure to comply with any order to stop any transfer of funds or payment ordered through online banking that you have a right to stop under applicable law will be determined by applicable law and any agreement between you and us concerning the account from which the transfer or payment is to be made, but in no event will we be liable to you for any damages (for example, consequential or punitive damages) in addition to actual damages.

13. Section 21 of the agreement is deleted.

14. The last sentence of Section 28 of the agreement is changed to read as follows:

  • By the use of any added or changed feature of online banking by you, any individual acting on your behalf in connection with online banking or anyone else you allow, or any individual acting on your behalf in connection with online banking allows, to have your access code or to use online banking in any way described in Section 6, 7 or 8, you will be agreeing to be bound by all our requirements concerning the added or changed feature.

15. Section 36 of the agreement is changed by adding at the end of the section the following sentence:

  • Also, if any individual acting on your behalf in connection with online banking uses online banking in any way described in Section 6, 7 or 8 or allows anyone else to have your access code or to use online banking in any way described in Section 6, 7 or 8, you will be agreeing to be bound by all those provisions, requirements and legal terms and conditions.

16. The information at the end of the agreement entitled "In Case of Errors or Questions About Your Electronic Transfers" is deleted.

Copyright 2001 Hodgson Russ LLP