Terms and Conditions

• Online Banking Disclosure
• Mobile Banking Disclosure
• Notice of Changes in Temporary FDIC Insurance Coverage

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Online Banking Disclosure

(Internet) Agreement

In consideration of the Online Banking services ("Services") to be provided by Cornerstone Bank ("BANK"), as described from time to time in information distributed by BANK to its customers. In the agreement, "Customer" refers to the person(s) subscribing to or using the Service. The Customer agrees as follows: You may use a Personal Computer ("PC") or web based phone through an Internet connection to obtain account balances and transaction information. You may also use your PC or web based phone to obtain statements on your accounts and to transfer money between your accounts. However, transfers from your savings and Money Market accounts are considered pre-authorized transfers, and pre-authorized transfers are limited to six (6) per monthly statement cycle by federal regulations. By subscribing to the Service or using the Service to make any payments to a third party, you agree to the terms of the Agreement.

PLEASE READ THIS AGREEMENT CAREFULLY AND KEEP A COPY FOR YOUR RECORDS.

Each individual who has access to Online Banking, including each individual named on joint accounts, must designate an access ID and password. Your access ID and password must be a minimum of 6 characters, which must consist of at least one(1) letter and one (1) numeric character. The letters are case sensitive. For example, if you enter your password as: 1234abc you cannot use 1234ABC. It is recommended that you change your password periodically to enhance security. Your access ID and password are sensitive personal data.  You should select an access ID and password that are hard to guess.  They should not be based on your name, address or other personal information. 

 

You may schedule transfers between your Cornerstone Bank accounts to be initiated on the current business day, on a future date, or on the same date of each month, subject to the restrictions in the Agreement. Although you can enter transfer information through the Service twenty-four (24) hours a day, seven (7) days a week, transfers can be initiated only on business days. Funds will be deducted from your Account on the business day on which a transfer is to be "initiated." This date is referred to in this Agreement as the "Transaction Date." If you direct the initiation of a transfer to occur on a day other than a business day, it will be initiated on the following business day.

 

Recurring transfers are those made for the same amount and are made on a weekly, bi-monthly, monthly basis, etc. Once started, recurring transfers will be made automatically until you tell us to stop or cancel the transfer on-line and we have a reasonable opportunity to react.

 

Bill Payment Terms and Conditions

 

Please refer to the CheckFree Terms and Conditions of the Bill Payment Service. 

 

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we might be liable for some of your losses or damages. However, there are some exceptions. We will not be liable for instance:

1. if, through no fault of ours, you do not have enough money in your account to make the transfer;
2. if the money in your account is subject to legal process or other encumbrances restricting transfer;
3. if the transfer would go over the credit limit on your overdraft line (if any);
4. if the system was not working properly when you started the transfer;
5. if circumstances beyond our control (such as fire or flood or systems failure) prevent the transfer, despite reasonable precautions that we have taken.

 

You may use your PC to cancel a transfer up to 6 p.m. (CST) on the business day your transfer is scheduled to be initiated ("Transaction Date"). There is no fee for canceling a transfer Online. 

All payments, transfers, and/or fees made with the Service will appear on your monthly Account statement. The Payee name, payment amount, and date of the payment will be shown for each payment made through the Service during that month.

 

Fees for Services shall be payable in accordance with a schedule of charges as established and amended by BANK from time to time. Charges shall be automatically deducted from customer’s Account, and BANK shall provide to Customer monthly notice of such debit(s) on your statement.

 

You are solely responsible for the equipment (including your personal computer and software) you use to access the Services. We are not responsible for errors or delays or your inability to access the Services caused by your equipment. We are not responsible for the cost of upgrading your equipment to stay current with the Services nor are we responsible, under any circumstances, for any damage to your equipment or the data resident thereon.

 

Our business hours are 8 a.m. to 5 p.m. (CST), Monday through Friday, except bank holidays. Although payments and transfers can be completed only on business days, the Service is available 24 hours a day, seven days a week, except during maintenance periods.

 

If you have elected to receive your statements electronically and at a later date would like to begin receiving a paper statement, please notify Cornerstone Bank, 529 Lincoln Ave., York NE 68467.

  

Security of your transactions is important to us. Use of the Services may therefore require a PIN or password. If you lose or forget you PIN or password, please call (402) 363-7411 during normal business hours listed above. We may accept as authentic any instructions given to us through the use of your password or PIN. You agree to keep your PIN and password secret and to notify us immediately if your PIN or password is lost or stolen or if you believe someone else has discovered your PIN or password. You agree that if you give your PIN or password to someone else, you are authorizing them to act on your behalf, and we may accept any instructions they give us to make transfers or otherwise use the Services. Online Banking Services enables you to change your password; we recommend that you do so regularly. We may be liable for certain security breaches to the extent required by applicable law and regulation. We do not assume any other liability or otherwise guarantee the security of information in transit to or from our facilities. Please note that we reserve the right to (1)monitor and/or record all communications and activity related to the Services; and (2) require verification of all requested transfers in the manner we deem appropriate before making the transfer (which may include written verification by you. You agree that our records will be final and conclusive as to all questions concerning whether or not your PIN or password was used in connection with a particular transaction.

If any unauthorized use of your PIN or password occurs you agree to (1)cooperate with us and appropriate law enforcement authorities in identifying and prosecuting the perpetrator; and (2) provide reasonable assistance requested by us in recovering any unauthorized transfer of funds.

Tell us AT ONCE if you believe your PIN or password has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum line of credit). If you tell us within two (2) business days, you can lose no more than $50. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your PIN or password, and we can prove we could have stopped someone from using your PIN or password without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have prevented someone from taking the money if you had told us in time. If you believe your PIN or password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call (402) 363-7411 during normal business hours listed above. WE CANNOT ACCEPT NOTIFICATION OF LOST OR STOLEN PINS OR PASSWORDS OR UNAUTHORIZED TRANSFERS VIA E-MAIL.

 

In case of errors or questions about your electronic transactions, telephone us at (402) 363-7411, 8 a.m.-5 p.m. (CST), Monday through Friday, or write us at:

Cornerstone Bank
Attention: Electronic Banking Department
Post Office Box 69
York, NE 68467

as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must hear from you no later than sixty (60) days after we sent you the FIRST statement on which the problem or error appeared. You will need to:

1. tell us your name and Account number (if any);
2. describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and
3. tell us the dollar amount of the suspected error.

If you tell us verbally, we may require you to send us your complaint or question in writing within ten (10) business days following the date you notified us. We will determine whether an error occurred within ten (10) business days (twenty (20) business days if the notice of error involves an electronic fund transfer to or from the account within thirty (30) days after the first deposit to the account was made) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days (twenty (20)business days if the notice of error involves an electronic fund transfer to or from the account within thirty (30) days after the first deposit to the account was made) for the amount you think is in error, so that you will 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 ten(10) business days, we may not credit your account.

If we determine there was no error, we will reverse the previously credited amount, if any, and we will send you a written explanation within three (3)business days after we finish our investigation. You may ask for copies of the documents we used in our investigation.

We may disclose information to third parties about your account or the transactions you make:

1. where it is necessary for completing transactions or resolving errors involving the Services; or
2. in order to verify the existence and condition of your account for a third party, such as a credit bureau or a merchant; or
3. in order to comply with government agency rules, court orders, or other applicable law; or
4. to our employees, service providers, auditors, collection agents, affiliated companies, or attorneys in the course of their duties and to the extent allowed by law; or
5. if you give us your permission.

You agree that we may obtain and review your credit report from a credit bureau or similar entity. You also agree that we may obtain information regarding your Payee Accounts in order to facilitate proper handling and crediting of your payments.

 

We reserve the right to terminate the Services, in whole or in part, at anytime with or without cause and without prior written notice. In that event, or in the event that you give us a termination notice, we may (but are not obligated to) immediately discontinue making previously authorized transfers, including recurring transfers and other transfers that were previously authorized but not yet made. We also reserve the right to temporarily suspend the Services in situations deemed appropriate by us, in our sole and absolute discretion, including when we believe a breach of system security has occurred or is being attempted. We may consider repeated incorrect attempts to enter your PIN or password as an indication of an attempted security breach. Termination of the Services does not affect your obligations under this Agreement with respect to occurrences before termination.

 

Except as otherwise provided in this Agreement or by law, we are not responsible for any loss, injury, or damage, whether direct, indirect, special or consequential, caused by the Service or the use thereof or arising in any way out of the installation, operation, or maintenance of your PC equipment.

 

No waiver of the terms of this Agreement will be effective, unless in writing and signed by an authorized officer of the BANK.

  

You may not transfer or assign your rights or duties under this Agreement.

  

The laws of the State of Nebraska shall govern this Agreement and all transactions hereunder. Customer acknowledges that he/she has reviewed this Customer Agreement, understands the terms and conditions set forth herein, and agrees to be bound hereby.

  

We can change a term or condition of this Agreement by mailing or delivering to you a written notice at least thirty (30) days before the effective date of any such change. We do not need to provide you with any prior notice where an immediate change in the terms or conditions of this Agreement is necessary to maintain or restore the security of our system or an account. However, even in these cases, if the change is to be permanent, we will provide you with a notice of the change with the next regularly scheduled periodic statement we send you, or within thirty (30) days, unless disclosure would jeopardize the security of our system or an account. Notices mailed or delivered to you under this paragraph will be considered effective if mailed to the most recent address we show for you in either our Checking or Savings Account records, or e-mail address in which you agreed to receive such notices and/or disclosures.

 

Customer, in consideration of being allowed access to the Services, agrees to indemnify and hold the BANK harmless for any losses or damages to the BANK resulting from the use of the Services, to the extent allowed by applicable law.

  

By accessing the Services, you hereby acknowledge that you will be entering a protected web site owned by the BANK, which may be used only for authorized purposes. The BANK may monitor and audit usage of the System, and all persons are hereby notified that use of the Services constitutes consent to such monitoring and auditing. Unauthorized attempts to up-load information and/or change information on these web sites are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986.  ConnectKey is an additional layer of security that is now a standard part of your CornerstoneConnect.Com Online Banking login routine.  ConnectKey is made up of three parts: an image, a pass phrase and three challenge questions no one else knows.  When you're at your own computer, enter your Access ID and then click on the Submit button.  We'll show your ConnectKey image and pass phrase, which verifies that you're at the valid Online Banking site at Cornerstone Bank.  Now you know it's safe to enter your Password.  When you're signing in from a different computer, we ask one of your challenge questions to verify your identity.  The secret ConnectKey pass phrase and image will appear after you answer correctly.  You know it's safe to enter your Password and login; and we know that it's really you.

 

There is no monthly service charge for online banking and bill payment services.
Fees that may be associated with online banking are:

• Bill Payment Non-Sufficient Funds Fee: $30.00
• Bill Payment Recall Fee: $30.00 per item
• Cancelled Check Copy Fee: $2.50 per item or $30.00 per hour plus $.75 per copy research fee.

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Mobile Banking Agreement & Disclosure 

The Mobile Banking Agreement and Disclosure states the terms and conditions that you agree to by using our Mobile Banking service.  This agreement supplements the Cornerstone Bank Deposit Account Agreement and Disclosures, Internet Banking Agreement and Disclosures and any other agreement between you and Cornerstone Bank. 

 

The terms “you” and “your” refer to any person subscribing to the Mobile Banking service.   The terms “We”, “us”, “our”, and “Bank” refer to Cornerstone Bank.  The term Mobile Banking refers to our service that allows you to access your Cornerstone Bank accounts and perform transactions via your mobile phone with web browsing/internet capabilities.

 

Please read this entire Agreement prior to using Cornerstone Bank’s Mobile Banking Service.  By using Mobile Banking, you acknowledge your receipt and understanding of this disclosure and agree to all terms and conditions of this agreement.

 

Mobile Banking is available to any persons who have subscribed to Cornerstone Bank’s Online Banking Service. 

Enrollment will be completed by logging in to www.cornerstoneconnect.com.  From there you will select Mobile Banking from the Options drop down menu and complete enrollment. 

 

Transactions conducted via Mobile Banking are subject to all withdrawal and transfer limitations and excess activity charges described in the Cornerstone Bank Deposit Account Agreements and Disclosures.

 

Transfers from a money market deposit account to another account or to third parties by preauthorized, automatic, Mobile Banking, online banking or telephone transfers are limited to six per month or statement cycle with no more than three by check, debit card, or similar order to third parties.

Preauthorized transfers from a savings deposit account, through an automated clearing house (ACH) or otherwise, telephone transfers, mobile banking, and wire transfers are limited to six per month.

 

In general, Mobile Banking is accessible 24-hours per day, seven days a week; however, Cornerstone Bank does not guarantee that Mobile Banking will be available at all times.  Occasionally, due to system maintenance or reasons beyond our control, the mobile banking service may be unavailable.

Transactions are processed on business days only.  Every day is a business day except Saturdays, Sundays, and Federal Holidays.  A transfer initiated before 6:00 p.m. CST on a business day is posted to your account the same day.  A transfer completed after 6:00 p.m. CST on a business day or on a non-banking day, as specified above, will be posted on the next business day.

 

We reserve the right to terminate the Mobile Banking Service, in whole or in part, at anytime with or without cause and without prior written notice. In that event, or in the event that you give us a termination notice, we may (but are not obligated to) immediately discontinue making previously authorized transfers, including recurring transfers and other transfers that were previously authorized but not yet made. We also reserve the right to temporarily suspend the Services in situations deemed appropriate by us, in our sole and absolute discretion, including when we believe a breach of system security has occurred or is being attempted. We may consider repeated incorrect attempts to enter your Access ID or Mobile Banking PIN as an indication of an attempted security breach. Termination of the Services does not affect your obligations under this Agreement with respect to occurrences before termination.

 

Cornerstone Bank does not guarantee that your mobile phone/mobile phone service plan will be compatible with our Mobile Banking service.  You are responsible for understanding the operation and maintenance of your mobile phone.  Cornerstone Bank is not responsible for any errors or problems related to your mobile phone, mobile provider, or mobile internet access.  Nor are we responsible for any fees assessed by your telephone company, internet service provider, or any other outside party.

Mobiles phones with internet capabilities are susceptible to viruses.  Customers are responsible for making sure that the mobile phone they are using to access Mobile Banking is protected from and free of viruses, worms, Trojan horses, or other similar harmful components (collectively, referred to as "viruses"), which could result in damage to programs, files, and/or your phone or could result in information being intercepted by a third party.  Cornerstone Bank will not be responsible or liable for any indirect, incidental, special or consequential damages that may result from such harmful components being present on the mobile, nor will Cornerstone Bank be responsible or liable if sensitive information accessed via our Mobile Banking service is intercepted by a third party due to any of the above named “viruses” residing or being contracted by the customer’s mobile phone at any point or from any source.

We are not responsible for errors or delays or your inability to access the service caused by your equipment. We are not responsible for the cost of upgrading your equipment to stay current with the services nor are we responsible, under any circumstances, for any damage to your equipment or the data resident thereon.

 

You may choose to communicate with Cornerstone Bank using electronic mail.  However, be advised that email transmissions are not secure.  We strongly discourage you from sending confidential account information to Cornerstone Bank via email.  Cornerstone Bank is not responsible for any error or problems of any kind involving your email.  At no time will any Cornerstone Bank employee ask for confidential information over email.

 

Cornerstone Bank may, periodically, introduce new Mobile Banking services.  By using the new services when they become available, you agree to be bound by the terms and conditions concerning these services.

 

 Fees

There is not a fee for using the Mobile Banking Service at Cornerstone Bank, however, all other fees associated with your accounts apply.  Standard test messaging rates and other taxes and additional fees  from your mobile phone service provider may apply when using Mobile Banking.  Check with your specific mobile phone service provider for more information on fees.

 

To notify Cornerstone Bank, call our Electronic Banking Department at (402) 363-7411 during regular business hours of 8:00 a.m. – 5:00 p.m. CST.  You can also write us at the following address: P.O. Box 69, York, NE 68467.

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Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

 

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.

 

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts. Commencing January 1, 2011, all NOW accounts will be insured under the general deposit insurance rules and will no longer be eligible for unlimited protection.

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