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Online Money Management Service Agreement

 

I am entering into this RBC Bank Online Money Management Services Agreement (hereinafter “Agreement”) with RBC Bank (hereinafter “RBC Bank”) as of the date specified on the RBC Bank Online Money Management Services Enrollment Form which I have previously filled out and sent to RBC Bank. This Agreement supplements the RBC Bank Service Agreement which governs my Subscriber Account, a copy of which is provided at account opening.
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Definitions - In this Agreement the following words will have the following meanings; “Application” refers to the RBC Bank Online Money Management Services Enrollment Form described above; “CheckFree” is CheckFree Corporation through its Retail Financial Services Division, the clearinghouse through which Online Banking and Online Bill Payment accounts will be serviced; “Online Banking” is the electronic home banking service providing access to my subscriber accounts; “Online Bill Payment” is the electronic bill payment service provided by RBC Bank, through CheckFree, which enables me to direct payments to payees from my designated subscriber account through the use of my modem and my personal computer which has software loaded onto it; “Business Day” is any day Monday through Friday that is not a legal holiday; “Payee” is a person or business that I designate to be a receiver of a payment; “PIN” is the personal identification number which I have chosen and I can change from time to time by using my personal computer and the software; “Software” means that certain Quicken*, Quick- Books*, Microsoft Money* or Microsoft Money Deluxe and Business, software which I have previously purchased from a third party distributor or retailer and “Subscriber Account” means any account designated in my application from which I will be conducting home banking or bill payment.

My Acceptance and Agreement - My initial accessing of Online Bill Payment or Online Banking through the use of my personal computer and the software signifies my agreement to be bound by the terms of this agreement.

Use of Online Bill Payment or Online Banking Generally - RBC Bank will provide confirmation of my subscriber account numbers and PIN(s) that I will need to use Online Banking or Online Bill Payment. I will gain access to my designated subscriber account through the use of my personal computer, my software and my PIN. Specific instructions on the use of Online Banking and Online Bill Payment will be provided with my software. My initiation of an electronic bill payment transaction through the use of my personal computer will be considered the same as my written signature in authorizing RBC Bank and CheckFree to perform its functions in relation to the transaction(s) I have requested. Any communication with RBC Bank and/or Check- Free will be through the connectivity provided by my internet service provider or other internet access service, as applicable.

Security Procedures - I will be assigned an RBC Bank Online Money Management Services Account number and I will receive my PIN in the mail (which I may change from time to time). BECAUSE ONE PERSONAL IDENTIFICATION NUMBER WILL BE ISSUED FOR ALL OF THE ACCOUNTS USED IN CONNECTION WITH THE ONLINE BANKING SERVICE, ALL USERS WILL HAVE ACCESS TO EACH ACCOUNT, WHETHER OR NOT HE OR SHE IS A PARTY TO THAT PARTICULAR ACCOUNT. I (WE) ACKNOWLEDGE AND AGREE THAT ALL PARTIES TO ANY OF THE ACCOUNTS LISTED ABOVE WILL BE ISSUED THE SAME PERSONAL IDENTIFICATION NUMBER FOR THE PURPOSE OF CONDUCTING ONLINE BANKING SERVICES AND WILL HAVE AUTHORITY TO ACCESS ANY OF THOSE ACCOUNTS. I agree not to allow anyone not authorized on an appropriate account agreement to gain access to Online Bill Payment or Online Banking, or to let any unauthorized person know my PIN, my RBC Bank Online Money Management Services account number or any of my designated subscriber account numbers.

Rules Governing Online Bill Payment - To enter payment requests, using my personal computer and my PIN, I will select the software and then I will type each set of payment instructions, including payee information, payment date and amount to be paid. Once I have completed my payment instructions, I will select Online Bill Payment from the software menu and transmit my payment request to Online Bill Payment. When I enter a payment request, I can specify the date by which I want the payment to be made. That day can be any business day up to two months in the future. I acknowledge and understand (i) that Online Bill Payment will not accept a date-to-pay that is not a business day or is earlier than the minimum 4-business day required lead time; (ii) that my specified payment date is the latest date by which a payment must be made; and (iii) that payment may be received by the payee several days prior to the specified payment date. I hereby agree that I will request that payments be made only when I am sure that funds will be available in my designated subscriber account by the actual payment date. When making a payment for me, RBC Bank, through CheckFree, will either (1) deposit an “electronic draft” directly in the payee’s account or (2) prepare a paper check drawn on my designated subscriber account and mail or deliver it to the payee. In either case the payment will be made by transferring the funds directly from my designated subscriber account to the payee’s account by the date and in the amount I specified in my payment instructions. RBC Bank through CheckFree, will change or cancel any payment I request ONLY if I transmit change or cancellation instructions before RBC Bank has processed the payment request. If RBC Bank has already processed the payment but the electronic draft or paper check has not yet reached RBC Bank for presentment, I MUST call RBC Bank to issue a stop payment order, and I will be responsible for the payment of any amounts or service fees charged for the stop payment order. RBC Bank, through Check- Free, will maintain systems in operation designed to deliver payments to my payees in a timely manner according to my properly entered payment instructions. However, this statement does not cover delays or losses of payment caused by the U. S. Postal Service or a failure of payment caused by:

  • lack of sufficient funds or other conditions preventing the withdrawal of funds from my designated subscriber account; 
  • equipment or technical failure or breakdown, or other circumstances, at CheckFree, my internet service provider or otherwise, beyond RBC Bank’s control; 
  • the payment date I requested was after the due date, or I requested a payment of less than the full amount due, or I did not select a payment date that allowed at least one day for the payee to post the transaction; 
  • failure to correct or notify RBC Bank of any error on any document or message presented to me by RBC Bank or the software, or correctly identify my payee account or the address of the subject payee when making a payment request; or 
  • failure to notify RBC Bank immediately if I believed that an unauthorized person had used my personal computer, my software or my PIN and/or has requested that payments be made without my permission.

Except as required by Regulation E or other pertinent statute or regulation, RBC Bank’s liability on each claim hereunder will not exceed fifty dollars ($50.00) per calendar year. I agree that I will be responsible for verifying the accuracy of all data transmitted through the Online Banking or Online Bill Payment services.

In the case of an error in an Online Banking transaction, I acknowledge that my ability to require RBC Bank to correct errors is governed by the Depositor Agreement(s) which I have executed with RBC Bank and/or the RBC Bank Service Agreement.

Confidentiality - RBC Bank will not disclose any information regarding the payments I make, my home banking transactions, or my account relationships except: 

  • as required to process the payment and/or resolve disputes between me and CheckFree, my internet service provider or payees. 
  • to comply with court or government orders, or 
  • to comply with any written authorization from me.

Service Charges - RBC Bank will charge a monthly fee for using Online Bill Payment and Online Banking, including separate charges for my initiation of payments in excess of the monthly allowance and access to Online Banking in excess of the monthly allowance, as specified from time to time by RBC Bank. The fees for banking services are set out in RBC Bank’s Schedule of Fees, a copy of which is provided at account opening, is amended and supplemented as follows:

Personal and Sole Proprietor Use:
Online Banking: No Charge
Online Banking and Online Bill Payment Combined: $5.95
(No Charge)*
*Fee will be waived or reduced as shown if an active Preferred, Premier or Esteem Checking account is maintained in good standing or if $10,000 in a combination of deposit accounts is maintained in accounts enrolled in Online Banking. (Checking, Savings, Money Market, or Certificates of Deposit).

Corporations and Partnerships Use:
Online Banking: $19.95
Online Banking and Online Bill Payment Combined: $29.95 for up to 40 bill payments per month. Additional bill payments are $.50 each

The first charge will be made on the second business day of the calendar month following the free trial period applicable to me, and subsequent charges will be made automatically. RBC Bank will debit my designated subscriber account for the amount of all service charges.

Modification or Termination - RBC Bank has the right to change the terms of this agreement at any time by giving me 21 days advance notice. Either RBC Bank or I may terminate this agreement at any time by giving written notice to the other party. RBC Bank may, in its discretion, terminate this agreement under this provision if there has been no activity in any of the RBC Bank Online Money Management services for a period of two (2) consecutive months.