Online Banking Terms and Conditions

V. General Terms

A. Changes to Charges, Fees or Other Terms
We reserve the right to change the charges, fees or other terms described in this Online Access Agreement. When changes are made to any fees, charges, or other material terms we will update this Online Access Agreement and either send a notice to you at the address shown on our records, or require acknowledgement of new or updated terms at time of first login following update. The notice will be posted or sent at least thirty (30) days in advance of the effective date of any additional fees for online transactions, or of any stricter limits on the type, amount, or frequency of transactions, unless an immediate change is necessary to maintain the security of the system. If such a change is made, and it can be disclosed without jeopardizing the security of the system, we will provide you with electronic or written notice within thirty (30) days after the change. As always, you may choose to accept or decline changes by continuing or discontinuing the accounts or services to which these changes relate. We also reserve the option, in our business judgment, to waive, reduce or reverse charges or fees in individual situations. The Account Agreement governs changes to fees applicable to specific accounts.

B. Overdrafts: Order of Payments, Transfers, Other Withdrawals
If your account has insufficient funds to perform all electronic funds transfers (ATM withdrawals, preauthorized transactions, Wadena State Bank Online transfers, and bill payments, etc.) that you have requested for a given business day, then:

1. Certain electronic funds transfers involving currency disbursement, like ATM withdrawals, will have priority, and
2. The electronic funds transfers initiated through Wadena State Bank Online may result in an overdraft of your account and may, at Wadena State Bank’s discretion, be canceled. In addition, you will be charged the same overdraft charges that apply to your account.

C. Disclosure of Account Information 
You understand that in addition to information furnished pursuant to legal process, some information about your accounts may automatically be disclosed to others.

1. To comply with government agency or court orders;
2. To verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
3. Where it is necessary for completing transfers;
4. To provide services relating to your account or to offer other products and services; or
5. If you give us permission.

D. Questions or Error Correction on Wadena State Bank Online and Bill Pay Services
In case of questions or errors about Wadena State Bank Online funds transfers through Wadena State Bank Online involving your account, please notify us in one of the following methods:

• By electronic mail (E-mail) to wsb@wadenastatebank.com
• Fax Wadena State Bank at (218) 631-2319
• Telephone Wadena State Bank at (218) 631-1860
• Write Wadena State Bank at PO Box 191, Wadena, MN 56482

Contact Wadena State Bank as soon as you can if you think your statement or transaction record is wrong, or if you need more information about a transaction listed on the statement or transaction record. We must hear from you no later than sixty (60) days after we have sent the first paper statement on which the problem or error appeared. If you notify us verbally, we may require that you send us your complaint or question in writing within ten (10) business days.

• Tell us your name and account number.
• Describe the error or the transaction you are unsure about and explain why you believe it is in error or why you need more information.
• Tell us the dollar amount of the suspected error.
• For a bill payment, tell us the checking account number used to pay the bill, payee name, date the payment was sent, payment amount, reference number, and payee account number for the payment in question. We will tell you the results of our investigation within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. An account is considered a new account for 30 days after the first deposit is made, unless you already have an established account with us before this account opened. If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. If we do not complete a transfer to or from your Wadena State Bank account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions we will not be liable, for instance: you, we will be liable for your losses or damages. However, there are some exceptions we will not be liable, for instance:
  • If, through no fault of ours, you do not have enough money in your account to make a transfer.
  • If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  • A legal order directs us to prohibit withdrawals from the account.
  • If your account is closed or if it has been frozen.
  • If you, or anyone you allow, commits any fraud or violates any law or regulation.
  • If you have not provided us with complete and correct payment information, including without limitation the name, address, account number, and payment amount for the payee on a bill payment.
  • If you have not properly followed the instructions for using Wadena State Bank Online
  • If circumstances beyond our control (such as fire, flood or improper transmission or handling of payments by a third party) prevent the transfer, despite reasonable precautions taken by us.

E. Other General Terms
Other Agreements – In addition to this Agreement you agree to be bound by and will comply with the requirements of the applicable Account Agreement, the Bank’s rules and regulations, the rules and regulations of any funds transfer system to which the Bank belongs, and applicable State and Federal laws and regulations. We agree to be bound by them also. Bank’s Right to Terminate this Agreement – The Bank reserves the right to terminate this Agreement and your access to Wadena State Bank Online, in whole or in part, at any time without prior notice.