Pike National Bank, serving the McComb, Mississippi community and beyond, provides a comprehensive online banking service designed to give you control over your finances. This document outlines the Pike National Bank Online Banking Agreement, detailing the terms, conditions, and responsibilities associated with using our digital banking platform. Understanding this agreement is crucial for a smooth and secure online banking experience.
Understanding the Key Definitions in the PNB Online Banking Agreement
To begin, let’s clarify some essential terms used throughout this agreement to ensure clarity and avoid any confusion regarding your Pike National Bank Online Banking Service.
Account: Refers to your personal checking, savings, or money market deposit accounts held at Pike National Bank. These are the accounts you can access and manage through our online banking platform for personal, family, or household financial management.
Account Access: This is your ability to view account information and transaction history, as well as transfer funds between your linked Pike National Bank accounts via the internet. It provides you with 24/7 access to your financial information and basic transaction capabilities.
Account Agreement(s): Encompasses all the legal documents and terms governing your accounts with Pike National Bank. This includes your deposit account agreement, any agreements related to funds availability, electronic fund transfers, lines of credit, credit cards, and our schedule of fees and charges. These agreements are fundamental to your relationship with Pike National Bank and are essential reading for all customers.
Bill Payment Account: This is specifically the Pike National Bank account you designate to be debited when you make payments to your Payee(s) through the PNB Online Banking Service. It’s the funding source for your online bill payments.
Bill Payment Service: This service allows you to schedule and make payments to individuals or companies (Payees) directly from your Bill Payment Account using your personal computer and the Pike National Bank Online Banking platform. It simplifies bill paying and offers convenience and efficiency.
Business Day: For the purposes of this agreement, a Business Day is defined as Monday through Friday, excluding holidays. This definition is important for understanding processing times for transactions and customer service availability.
Electronic: This term refers to technology using electrical, digital, magnetic, wireless, optical, or electromagnetic means, or any similar technology. It’s a broad term encompassing the digital nature of the PNB Online Banking Service.
PNB Online Banking Service: This collectively refers to both Account Access and Bill Payment services offered by Pike National Bank through the internet. It’s the complete suite of online banking tools available to you.
Payee: This is any individual, financial institution, educational institution, company, merchant, or other business entity you intend to pay using the Pike National Bank Online Banking Services. It can be anyone you need to pay bills to.
Personal Identification Number (PIN): Your PIN is a confidential code, either assigned by Pike National Bank or chosen by you, for security identification when using our PNB Online Banking Services. Protecting your PIN is vital for maintaining the security of your accounts.
Transfer: In this context, a Transfer is any electronic banking transaction, including deposits, withdrawals, or bill payments conducted electronically through the PNB Online Banking Service.
Setting Up and Utilizing Pike National Bank Online Banking Services
Eligibility for PNB Online Banking
To begin using Pike National Bank Online Banking, you must hold at least one eligible Account with us. Upon enrollment, you will receive an initial PNB Online Banking Services ID and a temporary PIN. Please note that some services may be subject to monthly fees and other charges as outlined in this Agreement and our fee schedules.
For security purposes, Pike National Bank will assign you an initial PIN, which you will be required to change immediately upon your first login to the PNB Online Banking Service. We may also periodically require you to update your PIN to enhance security. It is paramount that you keep your PIN confidential and stored in a secure location. Remember, anyone who gains access to your PNB Online Banking Services ID and PIN can access your accounts and conduct transactions, including viewing account details and transferring funds.
Accessing Your Accounts Online
Pike National Bank Online Banking Services are generally available around the clock, 24 hours a day, seven days a week. However, there may be instances where the service is temporarily unavailable for system maintenance or due to unforeseen circumstances. Pike National Bank is not liable under this Agreement for any inability to access the service due to system failures or other events beyond our control.
Pike National Bank reserves the right to modify, suspend, or terminate access to the PNB Online Banking Services at any time and for any reason, without prior notice or refunds of any fees paid.
Linking Your Pike National Bank Accounts
Through PNB Online Banking Services, you can conveniently access and manage your various Pike National Bank Accounts. We provide clear instructions on how to link your accounts to the PNB Online Banking Services, ensuring a seamless integration of your financial information.
Equipment Requirements for Online Banking
To effectively use Pike National Bank Online Banking Services, you will need a computer with a reliable internet connection and a compatible web browser such as Google Chrome, Mozilla Firefox, Safari, or Microsoft Edge. You are solely responsible for the setup, maintenance, and security of your personal computer and internet connection. Pike National Bank is not responsible for any errors, failures, or security breaches resulting from malfunctions of your computer, viruses, or other issues related to your use of the internet or the PNB Online Banking Services on your devices.
Limitation of Liability and Disclaimer of Warranties
Disclaimer of Warranties: Fitness and Merchantability
Neither Pike National Bank nor any of our information providers offer any warranties, either express or implied, concerning the software, equipment, browser, or services associated with PNB Online Banking. This includes, but is not limited to, any warranty of merchantability or fitness for a particular purpose, or non-infringement of third-party rights, unless such disclaimers are legally prohibited. This means the bank provides the service “as is” without guaranteeing it will perfectly meet all user expectations.
Computer-related Warranties
Neither Pike National Bank nor any information provider is liable for any computer viruses or software-related problems that may arise from the use of the PNB Online Banking Services. It is your responsibility to ensure your devices are protected with up-to-date antivirus software and security measures.
Pike National Bank Online Banking Services: Features and Functionality
Products and Services Offered Through PNB Online Banking
With Pike National Bank Online Banking Services, you can perform a variety of financial tasks online, including:
- Transfer Funds: Easily move money between your accounts held at Pike National Bank.
- Check Account Balances: Obtain up-to-date balances for your accounts. Balances generally reflect transactions up to midnight of the previous Business Day and may not include very recent transactions. Also, balances may include funds that are credited but not yet available for withdrawal.
- External Transfers via Bill Pay: Transfer funds from your Pike National Bank account to your accounts at other financial institutions using the Bill Pay service.
- Third-Party Transfers via Bill Pay: Send money to third parties, such as individuals or businesses, through the Bill Pay service.
- Pay Bills Online: Schedule and pay bills to merchants, individuals, and other payees located within the United States.
- Review Transaction History: Access and review past transaction history for all your linked accounts.
- Loan Payments: Transfer funds to make payments on your Pike National Bank personal and other types of loans, as applicable.
- Secure Email Communication: Send secure email messages to Pike National Bank for inquiries and customer service. However, email should not be used to initiate transactions or stop payment requests. For these actions, you must use secure channels within online banking or contact us directly via phone.
- Download Account Information: Export your account information in various formats, including:
- Word Processing (txt)
- Microsoft Money (ofx)
- Spreadsheet (csv)
These services are subject to certain limitations as detailed in this agreement and your account agreements. Transfers from savings and money market accounts are subject to federal regulations and account-specific limitations. Please refer to your specific account agreements for detailed restrictions and any applicable service charges.
Additional Details About PNB Online Banking Services
Account Access Specifics
To utilize the PNB Online Banking Services fully, you must link your Pike National Bank Accounts, including personal checking, savings, and loan accounts.
You can transfer funds in any amount through PNB Online Banking Services. You have the option to set up recurring transfers, make loan payments to Pike National Bank, and view and print your account statements.
Funds for transfers will be deducted from your account on the date you instruct us to process the transaction. Pike National Bank may decline a transfer instruction if sufficient funds, including overdraft protection, are not available in your account at the time of processing.
If a personal deposit account linked to PNB Online Banking is used primarily for business purposes, Pike National Bank reserves the right to convert the account to a business checking account. You will receive prior notification of any such change.
Bill Payment Service Details
To use the Bill Payment Service, you must designate a personal checking account at Pike National Bank as your Bill Payment Account. Bill payments can be made for any amount between $1.01 and $99,999.99.
By scheduling a bill payment, you authorize Pike National Bank to withdraw the necessary funds from your designated Bill Payment Account. Similar to fund transfers, Pike National Bank may refuse to process a bill payment if sufficient funds, including overdraft protection, are not available in your Bill Payment Account.
Processing Times for Fund Transfers and Bill Payments
Pike National Bank can process fund transfers and bill payments on the same Business Day if instructions are received before specific cutoff times: 5:00 p.m. (McComb, MS, local time) for fund transfers and 11:30 a.m. (McComb, MS, local time) for bill payments. Transactions scheduled after these times or on non-Business Days will be processed on the next Business Day.
For future-dated transfers, the transaction will be processed after the close of business on the scheduled date, if it’s a Business Day. If the scheduled date falls on a weekend or holiday, processing will occur on the following Business Day.
To ensure timely payments, schedule bill payments to be processed at least five to seven business days before the payment due date to account for processing and delivery times. Pike National Bank is not responsible for delays caused by postal services or the Payee’s processing times.
Each payment made through PNB Online Banking Services is assigned a confirmation reference number, which you can review via the BILL PAY option within the online banking interface.
In cases of insufficient funds for authorized transfers or payments, Pike National Bank may choose to either refuse the transaction or process it and overdraw your account. In either situation, you are responsible for any Non-Sufficient Funds (NSF) or overdraft charges that may apply.
When adding Payees for bill payments, ensure that you accurately enter your account number and address as they appear on your billing statement or invoice to avoid processing issues.
Occasionally, a Payee may not participate in electronic payment services or may require additional information. Pike National Bank works to encourage Payees to accept electronic or check payments from the bank. If unsuccessful or if timely processing is a concern, Pike National Bank may decline future payments to such Payees and will notify you if this occurs. Pike National Bank may also refuse payments to certain Payees, such as government agencies, due to processing limitations.
Methods of Bill Payment Processing
Payments made through Pike National Bank Online Banking Services are processed in one of two primary ways:
- Electronic Transmission: Payments may be sent electronically to Payees who accept electronic payments. This method allows Payees to receive payment information, including your account number, through a secure computer link. Electronic payments are typically received and credited within two to three business days.
- Bank Check by Mail: For Payees not set up for electronic payments, Pike National Bank will issue a bank check and mail it to the Payee via U.S. mail. Payments made by check usually take five to seven business days to be received and credited by the Payee.
In some instances, a Payee may provide instructions to Pike National Bank to send payments to a different address than provided by you or to process payments electronically instead of by check, potentially to a different financial institution account held by the Payee, to ensure timely processing. Pike National Bank may follow these Payee instructions to facilitate prompt payment and crediting to your account with the Payee.
Canceling Fund Transfers and Bill Payments
You have the ability to stop or modify scheduled payments. To cancel or change a bill payment, you must contact the PNB Account Services Department at 601-684-7575 or write to Pike National Bank at Pike National Bank, Attn: Account Services, 350 Rawls Dr., P.O. Box 1666, McComb, Mississippi 39649-1666. Your request must be received at least three (3) business days before the scheduled payment date to allow sufficient processing time.
If you notify us by phone, Pike National Bank may also require you to submit your request in writing within fourteen (14) days of your call. A fee of $33.00 will be charged for each stop-payment order. Please note that the stop payment will be revoked if written confirmation is not received within 14 days of your initial notification.
Limitations on Transfers from Savings/Money Market Deposit Accounts
Federal regulations mandate limitations on certain types of transfers from savings and money market deposit accounts. You are restricted to a total of [six (6)] preauthorized electronic fund transfers per statement cycle. Within these six transactions, no more than three can be made by check or point-of-sale withdrawals. Each fund transfer or bill payment made through PNB Online Banking Services from your savings or money market deposit account counts towards this limit. However, payments to your loan accounts with Pike National Bank are exempt from this limitation.
Due to these restrictions, it is generally recommended that you do not use a money market deposit account as your primary Bill Payment Account to avoid exceeding these federal limits.
Fees Associated with PNB Online Banking
Service Charges and Fees
A monthly service charge applies to the Bill Pay Service, and the specific amount depends on the type of Account you hold. Please refer to the Pike National Bank account type brochure for detailed fee information. These charges are in addition to any standard fees and charges associated with your Accounts. All PNB Online Banking service fees will be automatically deducted monthly from your designated Bill Payment Account. For Checking Plus accounts, an additional $2.00 fee is applied, along with a charge of thirty cents per item.
Additional Potential Charges
Depending on your access method and usage of PNB Online Banking Services, you may incur other charges, including:
- Standard checking account fees and service charges as per your account agreement.
- Internet service provider fees for your internet access.
- Costs associated with purchasing or using financial management software, if applicable.
Excess Transaction Fees for Savings and Money Market Accounts
For savings accounts and money market deposit accounts, an excess transaction fee may be applied for each transaction exceeding the federally mandated limits on certain types of transactions per statement cycle. These fees are detailed in your deposit account agreement.
Research Fees
If you request an inquiry about a transaction that occurred more than 90 days prior to your inquiry date, a research fee may apply. This fee is currently set at $25.00 per hour, plus a $3.00 per statement fee to cover the costs of retrieving and researching older transaction records.
Responsibilities of Parties Involved
Consumer Responsibilities
Your Rights and Responsibilities as a User
(a) Authorized Use of Services by Other Persons.
You are solely responsible for maintaining the confidentiality of your PIN and account information. Pike National Bank requires you to adhere to security procedures to access PNB Online Banking Services. Transactions initiated using your PIN and other security protocols are considered authorized by you, and are legally binding as if authorized by your signature. If you authorize other individuals to use your PIN and security credentials, their access is considered unlimited in both amount and manner until you officially notify Pike National Bank in writing that you have revoked their authorization and have changed your PIN or security procedures. You are responsible for all transactions made by such individuals until you notify us and we have a reasonable time to implement the changes to your PIN or security settings.
(b) Reporting Unauthorized Transactions.
You must immediately notify Pike National Bank if you believe your PIN has been lost or stolen, your security procedures have been compromised, or if you suspect any unauthorized transactions or fraudulent activity on your account. To report any issues, contact the PNB Account Services Department at (601) 684-7575 during business hours, or write to Pike National Bank, Attn: Account Services Department, P.O. Box 1666, McComb, Mississippi 39649-1666.
(c) Consumer Liability for Unauthorized Transactions.
Federal law limits your liability for unauthorized transactions if you report the loss or theft of your PIN promptly. If you notify Pike National Bank within two (2) business days after discovering the loss or theft, your potential loss is capped at $50 if your PIN is used without your permission.
It is crucial to contact Pike National Bank immediately if you suspect your PIN has been compromised. Telephoning is the quickest way to minimize potential losses. Delaying notification could significantly increase your liability. If you fail to notify us within two (2) business days of learning about the loss or theft, and Pike National Bank can prove that timely notification could have prevented unauthorized use, you could be liable for up to $500.
Furthermore, it is essential to review your account statements regularly. If you identify any unauthorized transfers, you must notify Pike National Bank within 60 days after the statement containing the unauthorized transaction was mailed to you. Failure to report within this 60-day period may result in you not recovering any funds lost after the 60 days, especially if Pike National Bank could have prevented further losses with timely notification. Regularly monitoring your account and promptly reporting discrepancies is vital for protecting your funds.
If extenuating circumstances (such as extended travel or hospitalization) prevented you from notifying us within the stated timeframes, Pike National Bank may extend these time periods on a case-by-case basis.
(d) Resolving Errors or Problems.
If you believe there is an error on your statement or receipt, or if you require more information about a listed transaction, you should contact Pike National Bank as soon as possible. You can reach us by telephone at (601) 684-7575 or in writing at Pike National Bank, Attn: Account Services Department, P.O. Box 1666, McComb, Mississippi 39649-1666.
To investigate and resolve the issue efficiently, you must contact us no later than 60 days after Pike National Bank sent the FIRST statement on which the error or problem appeared. When contacting us, please provide the following information:
- Your name and account number.
- A detailed description of the error or the transaction in question, including why you believe it is an error or what additional information you need.
- The exact dollar amount of the suspected error.
If you initially contact us orally, Pike National Bank may require you to send your complaint or question in writing within ten (10) business days. We will investigate and inform you of the results within ten (10) business days (or up to 20 business days if the transaction involves a new account). We will promptly correct any errors found.
If a more extensive investigation is needed, it may take up to 45 days (or 90 days for new accounts, point-of-sale debit card transactions, or foreign-initiated transfers). In such cases, your account may be provisionally credited within ten (10) business days (or 20 business days for new accounts) for the disputed amount, ensuring you have access to the funds while the investigation is ongoing. If written confirmation is requested and not received within ten (10) business days, provisional credit may not be applied.
If, after investigation, we determine that no error occurred, you will receive a written explanation within three business days of completing the investigation. You have the right to request copies of the documents used during the investigation process.
For error resolution purposes, an account is considered a new account for 30 days following the date of the first deposit.
Pike National Bank Responsibilities
Our Rights and Responsibilities
(a) Our Responsibility for Processing Transactions.
Pike National Bank is responsible for processing transactions accurately and in a timely manner according to this agreement. If we fail to complete a transfer to or from your Account (or to properly cancel a requested transfer) on time or for the correct amount due to our error, we are liable for your direct losses or damages.
(b) Limitations of Our Responsibility for Processing Transactions.
There are specific exceptions to Pike National Bank’s liability for processing transactions. We are not liable under the following circumstances:
- If, through no fault of Pike National Bank, you do not have sufficient funds in your Account to complete the transfer.
- If the transfer would exceed the credit limit on any overdraft line of credit associated with your account.
- If your account funds are legally restricted, attached, or the transfer is prevented due to legal constraints.
- If system malfunctions were known to you at the time you initiated the transfer.
- If circumstances beyond our control, such as telecommunication failures or natural disasters (fire, flood, etc.), prevent the transfer, despite reasonable precautions taken by Pike National Bank.
- If you have not provided complete and accurate payment information, including Payee details, account number, and payment amount for bill payments.
- If you have not correctly followed the instructions for using PNB Online Banking Services.
- If your personal operating system or software is not properly installed or functioning correctly.
- Other exceptions as stated in our agreements with you.
Pike National Bank’s sole responsibility for any processing error is to correct the error. Under no circumstances will Pike National Bank be liable for any indirect, special, incidental, or consequential damages. In states where the exclusion or limitation of liability for indirect, special, incidental, or consequential damages is not permitted, our liability is limited to the maximum extent allowed by applicable law.
Termination of PNB Online Banking Services
Your Pike National Bank Online Banking Services remain active until terminated by either you or Pike National Bank. You may cancel your PNB Online Banking Services at any time by providing written notice to Pike National Bank, Attn: Account Services Department, P.O. Box 1666, McComb, Mississippi 39649-1666. This cancellation specifically applies to your PNB Online Banking Services and does not affect any other account relationships you have with Pike National Bank. Upon termination of your PNB Online Banking Services, any pending scheduled payments will be automatically canceled.
Pike National Bank reserves the right to terminate your participation in PNB Online Banking Services for any reason and at any time. While we will attempt to notify you in advance, we are not legally obligated to do so.
Changes in Terms and Other Amendments
Pike National Bank may amend this Agreement, including changes to fees and charges, by providing you with at least thirty days’ notice before the changes become effective, unless changes are legally required or mandated by applicable regulations. Your continued use of PNB Online Banking Services after the effective date of any amendments signifies your agreement to these changes. The terms of your other account agreements remain in effect and continue to apply as originally agreed.
Other Important Provisions
Ownership of Website Content
All content, information, and offers available on the Pike National Bank website are copyrighted by Pike National Bank. Unauthorized use, reproduction, linking, or distribution of any part of the website content is strictly prohibited.
Geographic Restrictions
The PNB Online Banking Services described in this Agreement, along with any applications for consumer credit or deposit services available on our website, are exclusively offered to citizens and residents of the United States of America who reside within the United States of America. Access to PNB Online Banking Services may be restricted outside of the United States of America.
Governing Law
This Agreement is governed by and construed in accordance with the laws of the State of Mississippi, without regard to its conflict of law provisions. Your existing Account relationships will continue to be governed by the laws as specified in your respective Account agreements.
Scope of Agreement
This Agreement constitutes the complete and exclusive agreement between you and Pike National Bank regarding the provision of PNB Online Banking Services. No other statements, whether oral or written, including content on our website unless explicitly noted, are part of this Agreement.
Assignment and Delegation
This Agreement cannot be assigned by the Customer. However, Pike National Bank may assign this Agreement to any affiliate of the Bank and may delegate its duties under this Agreement to third-party service providers.
Headings
The headings used throughout this Agreement are for organizational convenience and reference only and do not affect the interpretation or construction of the Agreement’s content.
Dispute Resolution
Any dispute arising from or related to this Agreement or any aspect of the relationship between you and Pike National Bank will be resolved through binding arbitration under the rules of the American Arbitration Association (AAA). The arbitration will take place in a location designated by the arbitrator(s), as close as practically possible to McComb, Mississippi. The arbitrator’s decision, which must be in writing, will be final and legally binding and can be enforced in any court with jurisdiction. The arbitrator’s award cannot include punitive damages, and class actions are not permitted in arbitration.
By agreeing to this arbitration clause, you acknowledge that you are waiving your right to resolve disputes in court, with or without a jury, and are also waiving any rights to punitive damages or participation in class action lawsuits.
This comprehensive guide to the Pike National Bank Online Banking Agreement is intended to provide a clear understanding of the terms and conditions governing your use of our online banking services. For any further questions or clarifications, please contact Pike National Bank directly.
