Direct Connect with Bill Pay Service Agreement and Disclosure
The following Agreement and Disclosure (the “Agreement”) is for use with the Direct Connect and Bill Pay services (the “Services”), which allow you to connect to your Bankers Trust accounts within Quicken® or QuickBooks® financial management software to download account activity, send account-to-account transfer instructions, and utilize the bill payment service. As used in this Agreement, the terms “we,” “us,” and “our” refer to Bankers Trust. “You” and “your” refer to the accountholder(s), any authorized agents, and anyone who enrolls in and/or uses the Services. The term “Account” means your account(s) at Bankers Trust, and may include deposit accounts such as checking and savings, certificate of deposit, or your loan accounts. “Business Day” means every day, except Saturdays, Sundays, and federal holidays.
ALTERATIONS AND AMENDMENTS Bankers Trust reserves the right to modify this Agreement and the applicable fees and service charges at any time, effective upon reasonable notice to you, unless an immediate change is necessary to ensure the security of the Services. Further the Service may revise or update the applications, services, and related material, rendering all such prior versions obsolete. Consequently the Service reserves the right to terminate this Agreement as to all such prior versions and applications, services, and related material and limit access to only the Service’s most recent revisions and updates. Use of the Services or attempting to connect to the Services, constitutes your agreement with these terms, conditions, instructions and any modifications thereof.
RELATION TO OTHER AGREEMENTS Except where noted in this Agreement, all Services are subject to the terms and conditions set forth in the Bankers Trust Terms and Conditions brochure and the Service Fee Schedule provided to you, and as amended from time to time, and any other agreements you have entered into since opening the account(s). The Services will be subject to the following:
- The terms or instructions appearing on a screen when using the Services;
- The rules and regulation of any fund transfer system used in connection with the Services; and
- Applicable federal and state laws and regulations.
SUPPORTING EQUIPMENT AND SOFTWARE – You will need a computer, related equipment, an Internet service provider (ISP), and Quicken® or QuickBooks® software. You are solely responsible for the maintenance and operation of your computer. We are not responsible for any errors or failures due to the malfunction of your computer, or for any virus or other problems or changes that may be associated with use of your computer. In order to protect your computer and personal and banking information, we recommend you keep your computer updates current and install and update, as needed, firewall and anti-virus and anti-spyware software. Furthermore, we are not responsible for functions and features within or the performance of the Quicken® or QuickBooks® software. Any questions regarding the software must be directed to Quicken® or QuickBooks®.
EXCLUSION OF WARRANTIES – The service and related documentation are provided “as is” without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose.
DISPUTES – In the event of a dispute regarding the Service, you and the Service agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Service which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Service relating to the subject matter of this Agreement. If there is a conflict between what an employee of the Service or Customer Service Department says and the terms of this Agreement, the terms of this Agreement will prevail.
PASSWORD AND SECURITY – You agree not to give or make available your password or other means to access your account to any unauthorized individuals. You are responsible for all payments you authorize using the Service. If you permit other persons to use the Service or your password or other means to access your account, you are responsible for any transactions they authorize. If you believe that your password or other means to access your account has been lost or stolen or that someone may attempt to use the Service without your consent or has transferred money without your permission, you must notify the Service at once by calling a Customer Service Representative at 1-800-362-1688. Customer Service Representatives are available Monday through Friday 7:30 am to 8:00 pm Central Time (CT) and Saturday from 8:00 am until noon CT.
TRANSFERS AND TRANSFER CUTOFF TIME – Subject to the terms of this Agreement, you will generally be able to access your accounts through the software seven days a week, 24 hours a day. A transfer completed through the Service before the transfer cutoff time on a Business Day will be posted to your account on that same day. All transfers completed after the transfer cutoff time on a Business Day or on a day that is not a Business Day, will be posted on the next Business Day. The transfer cutoff time is 10:00 pm CT. Transfers that exceed the available balance in your account may be approved, creating an overdraft. FOR CONSUMER CUSTOMERS: An Overdraft Fee, as disclosed in the Service Fee Schedule provided to you at account opening and as amended from time to time, will be imposed for each transfer creating an overdraft, up to the daily limit as disclosed in the Service Fee Schedule. FOR COMMERCIAL CUSTOMERS: An Overdraft Fee, as disclosed in the Service Fee Schedule provided to you at account opening and as amended from time to time, will be imposed for each transfer creating an overdraft.
DIRECT CONNECT AND BILL PAY FEES – You agree to pay fees for the Services in accordance with the Service Fee Schedule provided to you at the time you opened your account and as updated by us from time to time. We may automatically deduct these fees from your Account (checking account from which bills will be paid or a related account) even if they create an overdraft. We reserve the right to modify the fees, service charges, and terms at any time, effective upon 30 days notice to you, unless an immediate change is necessary to ensure the security of the Services. Use of the Services or attempting to connect to the Services, constitutes your agreement with these fees, service charges, terms, conditions, instructions and any modifications thereof. You are responsible for any telephone access or Internet service fees that may be assessed by your service provider.
ELECTRONIC MAIL (EMAIL) – Because email is not secure, do not disclose information such as your account number(s), credit card number, or social security number in email communication with the Bank. If you need to discuss more specific information with us, please call a Customer Service Representative at 1-800-362-1688 Monday through Friday 7:30 am – 8:00 pm CT and Saturday 8:00 am – noon CT. Email can be a useful tool for transmitting information of a general nature; however, email is not a secure means of communication. You should contact us in person or by telephone if you need to discuss specific account information. If you do send us an email after normal business hours, it will be deemed to have been received on the following Business Day. Bankers Trust will have a reasonable time to act on your email. You should not rely on email if you need to communicate with us immediately. For urgent matters, such as if you need to cancel a payment that is scheduled to occur or if you need to report the loss or theft of your password, contact the Bank in person or by telephone.
LIABILITY – You agree to indemnify, hold harmless, and defend Bankers Trust from and against any and all claims, actions, suits, judgments and expenses (including court costs and reasonable fees of attorneys, accountants and expert witnesses) at your sole expense, arising from your failure to abide by the restrictions on use of the Services.
CHANGES TO CONTACT INFORMATION – In order for us to properly provide disclosure of important information to you, you hereby agree to promptly notify Bankers Trust of any change of your mailing or email address or of your telephone number. You may stop by any Bankers Trust office to complete a change of address form, or mail your signed address change information to us at:
Bankers Trust, Electronic Banking Department
453 7th Street, P.O. Box 897
Des Moines, Iowa 50304-0897
To maintain the security of your account(s) and personal and banking information, we do not accept changes of address or other information by telephone or email transmission.
DISCONTINUATION OF SERVICE – In the event you wish to discontinue the Services, you must contact us by telephone or in writing. Please allow up to ten (10) Business Days for your request to be processed once notice has been provided.
Telephone: (515) 245-2818 or 1-800-626-5761
Or write us at:
Bankers Trust, Electronic Banking Department
453 7th Street, P.O. Box 897
Des Moines, Iowa 50304-0897
Upon discontinuation you will be responsible for making arrangements to pay any future or recurring payments. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.
GOVERNING LAW – This Agreement, terms and conditions and the Services are governed by the laws of the State of Iowa and applicable federal law, without regard to any different state, and its laws, from which you may access your account from time to time.
ELECTRONIC FUND TRANSFERS – YOUR RIGHTS AND RESPONSIBILITIES
CONSUMER LIABILITY – Tell us AT ONCE if you believe your Direct Connect, Quicken®, or any other banking credentials (user name and/or password) or other means of accessing your account(s) have been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way to keep possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within two (2) Business Days after you discover your Internet Banking credentials or other means to access your account have been lost or stolen, you can lose no more than $50 if someone used your account without your permission.
If you do not tell us within two (2) Business Days after you learn of such loss or theft, and we can prove that we could have prevented the unauthorized use of your Internet Banking credentials or other means to access your account if you had told us, you could lose as much as $500.
Also, if your monthly account statement contains transfers that you did not authorize, you must tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may lose any amount transferred without your authorization after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason (such as a long trip or a hospital stay) prevented you from telling us, we may extend the period.
Contact in the event of unauthorized transfer. If you believe your Internet Banking credentials or other means of accessing the account(s) have been lost or stolen, call:
Bankers Trust, Customer Service Department
453 7th Street, P.O. Box 897
Des Moines, Iowa 50304-0897
Customer Service hours are Monday through Friday 7:30 am to 8:00 pm CT and Saturday 8 am to noon CT.
BUSINESS DAYS – For purposes of these disclosures, our Business Days are Monday through Friday, 7:30 a.m. to 6:00 p.m. CT, excluding federal holidays. Telephone support is also available as indicated above.
ERROR RESOLUTION NOTICE AND QUESTIONS—CONSUMER USERS OF THE SERVICE – The following procedures apply to consumers only. For commercial users of the service, please see the next section “Error Reporting and Dispute Procedures—Commercial Users of the Service.”
In case of errors or questions about your electronic transfers, call, write, or email us as indicated above in Contact in the event of an unauthorized transfer.
If you think your statement is incorrect or you need more information about a Service transaction listed on your statement, we must hear from you no later than sixty (60) days after the first statement was sent to you on which the problem or error appears. You must:
- Tell us your name and Service account number;
- Describe the error or transfer you are unsure about, and explain as clearly as possible why you believe it is an error or why you need more information; and
- Tell us the dollar amount of the suspected error.
If you tell us verbally, we may require that you send your complaint in writing within ten (10) Business Days after your verbal notification. We will tell you the results of our investigation within ten (10) Business Days after we hear from you, and correct any error promptly. However, if we require more time to confirm the nature of your complaint or question, we reserve the right to take up to forty-five (45) days to complete our investigation. If we decide to do this, we will provisionally credit your Account within ten (10) Business Days for the amount you think is in error. If we ask you to submit your complaint or question in writing and we do not receive it within ten (10) Business Days, we may not 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 credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that 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.
ERROR DISPUTE AND REPORTING PROCEDURES—COMMERCIAL USERS OF THE SERVICE – Your Duty To Report Unauthorized Transactions And Other Errors – Your statement will provide sufficient information for you to reasonably identify the items paid (item number, amount, and date of payment). You should keep a record of each transaction as it is made so that when we give you the information in the statement, you will have a complete understanding of each transaction listed.
You have some responsibilities in connection with your statement. You must examine your statement with “reasonable promptness.” Also, if you discover (or reasonably should have discovered) any unauthorized transactions, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss). The loss you might bear, in whole or part, could be not only with respect to items listed on the statement, but also other unauthorized items by the same wrongdoer. Of course, an attempt can be made to recover the loss from the thief, but this is often unsuccessful.
You agree that the time you have to examine your statement and report to us will depend on the circumstances, but you will not, in any circumstance, have a total of more than 30 days from when we first send or make the statement available to you.
You further agree that if you fail to report any unauthorized transactions in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we exercised ordinary care. The limitation in this paragraph is in addition to those contained in the second paragraph of this section.
Contact us if you do not receive your regular statement. You agree that you will have at least two people review your statements, notices, and returned checks, or in the alternative, the person who reviews these will be someone who does not have authority to transact business on the account.
In addition to the Commercial Code and other state law, you agree there is a common law duty to promptly review your statement for errors in addition to unauthorized transactions. Promptly reviewing your statement is valuable to both you and us because it can help identify, correct and prevent future mistakes.
In addition to your duty to review your statements for unauthorized transactions, you agree to examine your statement with reasonable promptness for any other error – such as an encoding error. You agree that the time you have to examine your statement and report to us will depend on the circumstances. However, such time period shall not exceed 60 days. Failure to examine your statement and report any such errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any such errors on items identified in that statement and as between you and us the loss will be entirely yours. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the 60 day time period to report other errors.
Additional Terms and Conditions of the Bill Payment (Bill Pay) Service
The Direct Connect service includes Bill Pay. Bill Pay allows you to pay your bills through your Quicken® or QuickBooks® software. At your option, you may decline Bill Pay service. Please note the Bill Pay function will still be visible to you when you log into the software, however, it will be inoperable. The monthly fee for Bill Pay Service is disclosed in the Service Fee Schedule.
- Agreement means these terms and conditions of the Bill Pay Service and all of the terms and conditions provided previously in the Bankers Trust Direct Connect and Bill Pay Service Agreement and Disclosure.
- Biller is the person or entity to which you direct a bill payment, or is the person or entity from which you receive electronic bills, as the case may be.
- Payment Instruction is the information provided by you to the Service for a bill payment to be made to the Biller (such as, but not limited to, Biller name, Biller account number, and scheduled payment date).
- Business Day is every Monday through Friday, excluding federal holidays.
- Due Date is the date reflected on your Biller statement for which the payment is due; it is not the late date or grace period.
- Funding Account is the account from which bill payments will be debited. Only one Funding Account is permitted within the Service.
- Scheduled Payment is a payment that has been scheduled through the Service but has not begun processing.
- Scheduled Payment Date is the day you want the Biller or other payee to receive your bill payment.
- Service means the Bill Pay Service for the remainder of this agreement.
PAYMENT SCHEDULING – It is your responsibility to schedule your bill payments in such a manner that your bills will be paid on time. The Service utilizes the payment due date model, which means you should enter the Biller Due Date or the date on which you want the payment to reach the payee as the Scheduled Payment Date. The Service will calculate a payment processing start date based on the date you want the payment to reach the payee. You must provide the Service a minimum of four (4) Business Days lead time. You are responsible for any late payment or finance charges that may be imposed as a result of your failure to schedule payments at least four business days in advance. Payment Instructions received on non-Business days will be considered received on the next Business Day. The Service cutoff time is 2:00 am CT.
PAYMENT AUTHORIZATION AND REMITTANCE – By providing the Service with names and account information of Billers to whom you wish to direct payments, you authorize the Service to follow the Payment Instructions that it receives through the payment system. In order to process payments more efficiently and effectively, the Service may edit or alter payment data or data formats in accordance with Biller directives.
When the Service receives a Payment Instruction, you authorize the Service to debit your Funding 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 the Service to credit your Funding 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.
The Service will use its best efforts to make all your payments properly. However, the Service shall incur no liability and any Service Guarantee shall be void if the Service is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances:
- If, through no fault of the Service, your Funding Account does not contain sufficient funds to complete the transaction, or the transaction would exceed the credit limit of your overdraft account, and the payment is returned nonsufficient funds to the payee;
- We reject your payment because you have exceeded your authorized limit, as disclosed to you at enrollment;
- The payment processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction;
- You have not provided the Service with the correct Funding Account information, or the correct name, address, phone number, or account information for the Biller; and/or,
- Circumstances beyond control of the Service (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances.
Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Funding Account or causes funds from your Funding Account to be directed to a Biller which does not comply with your payment instructions, the Service shall be responsible for returning the improperly transferred funds to your Funding Account, and for directing to the proper Biller any previously misdirected transactions, and if applicable, for any late payment related charges.
LIMITATION OF LIABILITY FOR BILL PAYMENTS – You agree that, except as expressly stated above, there is no warranty of merchantability, no warranty of fitness for a particular use, and no warranty of any kind, express or implied, regarding the information or any aspect of the Services.
In addition to the circumstances detailed above under Payment Authorization and Remittance, Bankers Trust will not be held liable for failure to properly complete a bill payment in the following instances:
- If there is a hold on your account, or if access to your account is blocked, in accordance with banking policy.
- If your funds are subject to legal process or other encumbrance restricting the transfer.
- If your payment authorization terminates by operation of law.
- If you believe someone has accessed your account(s) without your permission and you fail to notify Bankers Trust as detailed in the Electronic Fund Transfers – Your Rights and Responsibilities section.
- If we received incomplete or inaccurate information from you or a third party involving the Funding Account or Payment Instruction.
- If Bankers Trust has a reasonable basis for believing that unauthorized use of your Internet Banking credentials or account(s) has occurred or may be occurring.
- If you are in default of this Agreement and its terms and conditions or any other agreement you have with Bankers Trust.
- If a Biller refuses to accept a payment,
- If you attempt to make alimony, child support or other court-directed or tax payment.
- If Bankers Trust, or you, terminate this Agreement.
There may be other exceptions stated in this Agreement and with other agreements you have with Bankers Trust. In no event shall we be liable for any indirect, incidental or consequential damages you may incur.
PROHIBITED PAYMENTS—PAYMENTS NON-U.S. PAYMENTS – Payments to Billers outside of the United States or its territories are prohibited through the Service. Payments sent to U.S. territories may require additional processing time.
EXCEPTION PAYMENTS – Tax payments and court-ordered payments may be scheduled through the Service; however, such payments are discouraged and must be scheduled at your own risk. In no event shall the Service be liable for any claims or damages resulting from you scheduling these types of payments. The 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. The Service has no obligation to research or resolve any claim resulting from an exception payment. All research and resolution for any misapplied or misdirected payments will be the sole responsibility of you and not of the Service.
BILLER LIMITATION – The Service reserves the right to refuse to pay any Biller to whom you 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.
PAYMENT METHODS – The Service reserves the right to select the method in which to remit funds on your behalf to your Biller. These payment methods may include, but are not limited to, an electronic payment, an electronic to check payment, or a laser draft payment. Therefore, the entry to your account may be an ACH entry or check.
PAYMENT CANCELLATION REQUESTS – You may cancel or edit any Scheduled Payment (including recurring payments) by following the directions within the Service. There is no charge for canceling or editing a Scheduled Payment. Once the Service has begun processing a bill payment, it cannot be canceled or edited. A stop payment request must be submitted. See the next paragraph for limitations on stop payment requests.
STOP PAYMENT REQUESTS – The Service’s ability to process a stop payment request will depend on the payment method and whether or not a check has cleared. The Service may not have reasonable opportunity to act on a stop payment request after a payment has been processed. If you desire to stop any payment that has already been processed, you must contact Customer Service at (800) 362-1688, Monday through Friday 7:30 am – 6:00 pm CT, and Saturday 8:00 am – 12:00 pm CT. Although the Service will make every effort to accommodate your request, the Service will have no liability for failing to do so. The Service may also require you to present your request in writing within fourteen (14) days. The charge for each stop payment request will be the current charge for such service as disclosed in the Service Fee Schedule provided to you, and as amended from time to time.
OVERDRAFTS – If a Bill Pay transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the Bill Pay transaction (creating an Overdraft) or return the Bill Pay transaction (Returned Item).
FOR CONSUMER CUSTOMERS: Paid overdrafts will be subject to an Overdraft Fee for each transaction overdrawing the account, up to the daily limit as disclosed in the Service Fee Schedule provided to you at account opening and as amended from time to time. Returned transactions are subject to a Returned Item Fee, as disclosed in the Service Fee Schedule. There is no daily limit on the number of Returned Item Fees you may be charged in a single day.
FOR COMMERCIAL CUSTOMERS: Paid overdrafts will be subject to an Overdraft Fee for each transaction overdrawing the account and returned items will be subject to a Returned Item Fee, as disclosed in the Service Fee Schedule provided to you at account opening and as amended from time to time.
For complete details about overdraft services, as well as alternatives, please refer to the terms and conditions brochure provided to you at account opening, visit our website at www.bankerstrust.com, or call Customer Service at 1-800-362-1688.
FAILED OR RETURNED TRANSACTIONS AND PAYMENTS – In using the Service, you are requesting the Service to make payments for you from your Funding Account. If we are unable to complete the transaction for any reason associated with your Funding Account, 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 the Service immediately upon demand the transaction amount that has been returned to the Service;
- For any amount not reimbursed to the Service within fifteen (15) days of the initial notification, a late charge equal to 1.5% monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed;
- You will reimburse the Service for any fees imposed by your financial institution as a result of the return; and
- You will reimburse the Service for any fees it incurs in attempting to collect the amount of the return from you.
In using the Service, you understand that Billers and/or the United States Postal Service may return payments to the Service for various reasons such as, but not limited to, Biller’s forwarding address expired; Biller account number is not valid; Biller is unable to locate account; or Biller account is paid in full. The Service 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 Funding Account. You may receive notification from the Service.
SERVICE TERMINATION OR CANCELLATION – In the event you wish to cancel the Service, notify us as outlined in Discontinuation above. Any payment(s) that are already in process before the requested cancellation date will be completed by the Service. You may cancel payments you do not wish to remit prior to terminating the Service. All Scheduled Payments, including recurring payments, will not be processed once the Service is cancelled. The Service may terminate or suspend Service to you at any time. Neither termination nor suspension shall affect your liability or obligations under this Agreement.