Help Reduce Your Risk With an Internet Agreement
The Internet Agreement provides appropriate contract language and the Reg E and other disclosures to permit depositors/share holders to access their accounts via the Internet.
Intended for use by all depository institutions, the Internet Agreement Brochure is a work-sheet-based, "take one" brochure consisting of an application, Terms and Conditions, and disclosures.
Take Advantage of These Options:
- Transfers of funds between different accounts of the account owner with the institution,
- Payments from the account owners' deposit/share accounts to their loan accounts with the institution,
- Payments from the deposit/share accounts to third parties pursuant to an on-line bill payment program,
- Transfers of funds from the account holders' lines of credit to their deposit/share accounts, and
- Obtaining account information, such as balances, deposits, or withdrawals.
Flexibility and Convenience
The Internet Agreement Brochure can be presented at account opening, sent by mail to existing or prospective account holders, or placed in a lobby "take one" display. Upon receiving the Internet Agreement Brochure, account owners can study it at their convenience; complete, sign, and return the application portion; and retain the Terms and Conditions portion for their records.
The on-line bill payment program can be used as described in the Internet Agreement Brochure (by check only) or in a separate written agreement signed before, during, or after completing the Internet Agreement Brochure. Such a separate written agreement will often involve a third-party on-line bill payment service provider and is required for payments via Automated Clearing House (ACH).
The Internet Agreement Brochure also provides an option whereby account owners can consent to receive related disclosures (including optional periodic statements) electronically.
NOTE: The Internet Agreement Brochure requires an appropriate web site and security procedures.
