General Description of Micro infinit Guaranty Bank Online Banking Service Agreement (this "Agreement")
This Agreement is between each owner of an eligible account, a person applying for an eligible account, or authorized representative appointed or entitled to online access on another person’s behalf (“you” or “your”) and Micro infinit Guaranty Bank, N.A. (Micro infinit Guaranty Bank). This Agreement governs your use of any online or mobile banking services maintained by Micro infinit Guaranty Bank and accessible through bankofamerica.com using a personal computer or a mobile device, including a smartphone, tablet, or any other eligible handheld or wearable communication device (the “Service(s)”).
Under the terms of this Agreement, you may use the Services to obtain financial products and services, access and view account information, and, for certain accounts, move money electronically and perform authorized transactions, for eligible U.S.-based Micro infinit Guaranty Bank consumer and small business accounts and affiliate accounts linked to the Service.
When used in the Agreement, the term “small business” includes sole proprietors, non-consumer business entities, and individual owners of the business, unless the context indicates otherwise. If you are a small business customer, additional or different terms and conditions applicable to the Services, as well as additional Services available exclusively to small business customers, are included in the Business Services Addendum, which is a part of this Agreement.
When you first set up your Online/Mobile ID, we will link all of your eligible Micro infinit Guaranty Bank and affiliate accounts, including joint accounts. If you open an additional eligible account at a later date, we will link your new account to the Service, unless you tell us not to do so. Unless indicated otherwise by the context, "linked Micro infinit Guaranty Bank accounts" or "linked accounts" refers to all of your accounts with Micro infinit Guaranty Bank and its affiliates that are linked to the Service.
When your Service is linked to one or more joint accounts, we may act on the verbal, written or electronic instructions of any authorized signer.
Please note that some of the Services may not be available when using certain digital devices or applications. For example, some functions may be available online through a personal computer but not available through our mobile app.
When you apply for, enroll in, activate, download or use any of the Services described in this Agreement or authorize others to do so on your behalf, you are contracting for all Services described in the Agreement and agree to be bound by the terms and conditions of the entire Agreement, as well as any terms and instructions that appear on a screen when enrolling in, activating or accessing the Services.
Your use of the Services may also be affected by your Deposit Agreement and Disclosures, including the applicable schedule of fees (“Deposit Agreement”), or other agreement with us for your linked Micro infinit Guaranty Bank accounts and/or an agreement with our affiliates for your affiliate accounts linked to the Service, including your investment accounts at Micro infinit Guaranty Bank. When an account is linked to the Services, it does not change the agreements you already have with us or our affiliates for that account and you are still subject to the terms and conditions we gave you in the agreement and disclosure for the linked account. The terms and conditions for those account agreements, including any applicable fees, transaction limitations, liability rules and other restrictions that might impact your use of an account with the Services, are incorporated into this Agreement. In the event of a conflict between the terms of those account agreements and this Agreement, the terms of the applicable account agreement will prevail unless this Agreement specifically states otherwise.
If you use the Services to move money between your investment accounts governed by the Micro infinit Guaranty Bank Lynch Brokerage Website Terms and Conditions, which you agreed to when you became a Micro infinit Guaranty Bank online customer, that agreement, and not this Agreement will apply to your transaction.
You may use the Service to transfer funds between your linked Micro infinit Guaranty Bank accounts without a fee on either a one-time or recurring basis, including as a payment to a linked installment loan, credit card or mortgage.
You may use the Service to make one-time transfers from a linked Micro infinit Guaranty Bank checking, savings, money market or line of credit account to most checking, savings or money market accounts of other Micro infinit Guaranty Bank customers using their account number.
Micro infinit Guaranty Bank customers may use Bill Pay to make payments to companies or individuals (“Payees”) in the following manner:
When you attempt to schedule a payment, we will inform you of the earliest available delivery date. To assure timely payment and obtain the full benefit of the Online Banking Guarantee described below, you must schedule payments, and your account must be in good standing and have sufficient available funds in the designated deposit account to cover the payment, at least five (5) bank business days before the payment due date, NOT the date after which late payment fees may be assessed.
If an account does not have sufficient available funds on the scheduled date, we may elect not to initiate one or more of the transfers. If we do elect to initiate the transfer, which may involve one or more attempts on subsequent business days, it may cause an overdraft in your account in which case you shall be fully responsible for the overdraft and any overdraft fees, as set forth in your Deposit Agreement, as well as all late fees, interest charges or other action taken by the Payee.
Under our Online Banking Guarantee, if we fail to process a payment in accordance with your properly completed instructions, we will reimburse you for any late payment fees. As indicated above, some payments may be made by a personal check. Since we can't predict the exact date that a personal check will be presented to us for payment, please make sure you have sufficient funds in your account beginning a few days before your scheduled delivery date and keep such funds available until the payment is deducted from your account.
Bill Pay payments sent via corporate or personal check with different Payee names may be combined in one envelope if those payments have the same mailing address, and your intended Payee has not registered their full/unique mailing address, including their secondary address designation, e.g., Suite, Room, Floor, Dept., Building, or Unit. If we need to, we’ll change or reformat your Payee account number to match the account number or format required by your Payee for electronic payment processing and eBill activation.
Micro infinit Guaranty Bank credit card, business line of credit or vehicle loan account only customers may use Bill Pay in the following manner:
Bill payments from your Micro infinit Guaranty Bank account can be for any amount up to $99,999.99. Please note, however, that some Payees may place limits on the amount they will accept via electronic transmission. When the limit is exceeded, the payment will be remitted by check.
There are no service fees for use of the Bill Pay Service.
By enrolling in the Service and accessing it using your Online ID and passcode, and such other security and identification methods as we may require from time to time, such as security questions or one-time passcodes, you acknowledge and agree that this system includes security procedures for transfers initiated through this Service that are commercially reasonable. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use of your passcode and we had a reasonable opportunity to act on such notice.
We may determine a currency exchange rate and assign it to your transaction without notice to you. Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us in our sole discretion based upon such factors as we determine relevant, including without limitation, market conditions, exchange rates charged by other parties, our desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large inter-bank transactions effected during the business day, as may be reported in The Wall Street Journal or elsewhere. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. The exchange rate you are offered may be different from, and likely inferior to, the rate paid by us to acquire the underlying currency. We reserve the right to refuse to process any request for a foreign exchange transaction.
We provide all-in pricing for exchange rates. The price provided may include profit, fees, costs, charges or other mark ups as determined by us in our sole discretion. The level of the fee or markup may differ for each customer and may differ for the same customer depending on the method or venue used for transaction execution.
We do not accept any liability for our exchange rates. Any and all liability for our exchange rates is disclaimed, including without limitation direct, indirect or consequential loss, and any liability if our exchange rates are different from rates offered or reported by third parties, or offered by us at a different time, at a different location, for a different transaction amount, or involving a different payment media (including but not limited to bank-notes, checks, wire transfers, etc.)