Online Banking and Bill Pay Service Agreement

 

Please read following terms ad conditions apply to Shinhan Bank America Online Banking and Bill Pay Service carefully. It contains important information and guidelines for using Online Banking and Bill Pay. By pressing the “I Agree” button, you agree to the terms and conditions of the Online Banking and Bill Pay Service Agreement which includes consent to future amendments of the Agreement. By pressing “I Disagree”, you will be returned to the Log In screen.

By accepting this agreement, accessing your deposit accounts, and using Online Banking and Bill Pay Service, you agree to be bound by the terms of this Agreement. Shinhan Bank America may amend these terms from time to time without notice, except as may be required by Law. We may modify or cancel your service at any time without notice, at our discretion, except as may be required by Law. If you access your deposit accounts through this service, such accounts continue to be governed by the applicable terms and conditions governing you Account. When you access your accounts through this service, you do so under the terms and conditions of and Account Disclosures relating to deposit accounts another services and Electronic Funds Transfer Agreement and Disclosures and the application statement of fee as they may be amended from time to time. Additional fees may be assessed for the services in accordance with the rules for the applicable account and this Agreement.

In this Agreement, the terms:

  1. General Terms and Conditions
     
    1. Requirements
      To access your Deposit Accounts via Online Banking at www.shbamerica.com, you must have an access ID, a password, adequate hardware, and software, and access to Internet.
      We reserve the right to limit the service to certain account types.
       
    2. Computer Equipment
      You are responsible for the installation, maintenance, and operation of the Computer and browser software. The risk of error, failure, or non-performance is your risk and includes the risk that you do not operate the computer or software properly. Shinhan Bank America is not responsible for any errors or failures from any malfunction of the computer or the software nor is it responsible for any electronic virus(s), worms, or similar software that you may encounter. We have no liability to you for any damage or other loss, direct or consequential, which you may suffer or incur by reason of your use of the computer or the software. Shinhan Bank America makes no warranty to you regarding the computer or the software, including any warranty of merchantability or fitness for a particular purpose.
       
    3. Service Availability
      The Online Banking service is available 7 days a week, 24 hours a day. The Services may be unavailable from time to time for scheduled maintenance. There may also be unscheduled down time, but we will work to minimize such interruption in service.
       
    4. Disclosure of Account Information
      We will disclose information to third parties about your account or the transactions you make:
      1. where it is necessary or helpful for completing a transaction;
      2. in order to verify the existence and condition of your account for a third party such as a credit bureau or merchant;
      3. in order to comply with reporting or other legal requirements (including, for example, legal process);
      4. if you give us your permission;
      5. to offer you additional products and services from us and others that we think might be of interest to you;
      6. to otherwise conduct our business; and
      7. as otherwise permitted by Law. Notwithstanding the above, we will not disclose such information where prohibited from doing so by applicable Law.
        Please refer to Shinhan Bank America Privacy Policy.
         
    5. Electronic Mail  
      Electronic mail transmissions may not be secure. We, therefore, request that you do not send us or ask for sensitive information (such as personal identification, account numbers, or other account information) via any third party e-mail system. If you wish to contact us electronically, please use the secure message system through the service. If you send the Bank a message using the secure message system, the bank will receive it by the following Business Day. You agree that we may take a reasonable period time to act on any message received. If you need to contact us on an urgent matter, please contact your branch of account or nearest branch location, refer to our branch information in www.shbamerica.com. This will ensure that your situation can be addressed as promptly as possible.
       
    6. Security
      You may access your account(s) with last four (4) digits of your Social Security number for first time log in. The length of password is minimum of 4 to maximum of 6 alphanumeric characters. For security purposes, it is recommended not to write your access ID and password. Furthermore, we strongly recommend that you change your password the first time you use the service and regularly thereafter. We are entitled to act on instructions received under your access ID and password, and you are responsible for keeping your access ID, password and your account(s) information confidential. If you believe that your password may have been lost or stolen, become known by an unauthorized person or someone has accessed your account without your permission, or if you suspect any fraudulent activity on your account, notify your branch of account or nearest local branch, or write to Shinhan Bank America, Operations Support Team at 330 Fifth Ave. 4th, New York, NY  10001 or 3000 W. Olympic Blvd., Los Angeles, CA 90006. In our effort to provide transmission security, data transferred via Online Banking is encrypted using VeriSign and Online Banking utilizes identification technology to verify that the sender and receiver of Online Banking transmissions can be appropriately identified by each other. We lock out online banking accounts and services after the third unsuccessful log on attempts, to prevent any fraudulent activities. Notwithstanding our efforts to insure that the Online Banking System is secure, you acknowledge that the Internet is inherently insecure and that all data transfers, including electronic mail, occur openly on the Internet and potentially can be monitored and read by others. 
       
    7. Service
      1. View Accounts: You may view the available balances in your deposit accounts. It will reflect the available balance as of the close of business for the previous business day. They may not reflect the current day’s transactions.
         
      2. Image: You may view the image of items as long as the item is existed in account history.
         
      3. Bill Payment Services: You may initiate bill payments, see below for details.
         
      4. Transfers between Accounts: Transfer service allows you to transfer funds from one deposit account to another deposit account, except Certificate of Deposits account. Accounts should be identical in ownership (subject to exceptions the Bank may make to this general rule).
         
      5. Stop Payments: You may order stop payment on any of your checks that have not yet been paid by bank.
         
  2. Bill Payment Services
     
    The Online Banking Bill Payment Service allows you to schedule, at your option, for the payment of your current, future, and, recurring bills from your account(s). You must provide account number from which the payments are to be made: the complete name of the payee, the account number, and the payee’s address, all exactly as shown on the billing statement or invoice; the amount of the payment; and the date you want the payment to be sent, called “Payment Date”. When a payment instruction (for a current or any future date) is received under your access ID and password, you agree that we can charge your designated account by electronic transfer, demand draft (that is “no signature required draft”), or by debiting the remitting funds on you behalf to the payee. Your Bill Payment Account must have sufficient available funds in it to cover all payments and transfers from that account on the payment date and on the presentment date. We will not be obligated to make a payment unless your Bill Payment Account and/or linked overdraft protection privilege service has sufficient funds to pay the bill on each of those dates. Funds for all bill payments (whether we make these payments electronically or by check) will be withdrawn from your Bill Payment Account on the scheduled payment date or on the presentment date.
    We reserve the right to terminate your use of Online Bill Payment Service at any time, whether for cause or without cause and with or without notice to you.
     
    In order to ensure to receive and process your payments, allow at least seven (7) business days between the scheduled date and the payment due date.
    Shinhan Bank America uses non-affiliated third parties acting on our behalf to process Bill Pay payments. The third party processors are required to adhere our bank’s strict standards of security and privacy protection. Paper checks processed by non-affiliated third parties may show that were drawn on third party processor rather than on Shinhan Bank America.
     
    You are prohibited to use the Bill Pay service for third parties and once detected we may ground for termination of your service.
     
    Shinhan Bank America is not responsible when the bill payments can not be made due to incomplete, incorrect, or outdated information provided by you regarding a Payee or if you attempt to pay a Payee that is not on your Authorized Payee list.
     
    There is no charge for Bill Pay Service. If the bank decided to change the terms of the Bill Pay Service, we will notify you in writing at least 30 days prior to implementation of the noted change.
     
    You authorize Shinhan Bank America to withdraw, debit or charge from your designated account with us on the date which you submit bill payments, subject to applicable cut-off times as described below.
     
    There is a limit of maximum $10,000 per account per business days for bill payments unless otherwise noted for payment restriction. You may transfer funds between your linked accounts without any limits.  
     
    You may cancel or edit any scheduled payment including any recurring payments by following the instruction. The future dated payments can be cancelled prior to 4:00 pm EST or 1:00 pm PST on the bank business day of the scheduled payment. However, once the payment is in process status or processed, you will no longer cancel the payment.
    Shinhan Bank America is under no obligation to notify you if the payment is not completed for any such reasons.
     
  3. Stop Payments
     
    You may place stop payments on any of your checks that have not yet been paid by us. You must provide the amount of check(s) and the check number(s). Any loss you suffer due to your failure to accurately identify the check in the stop payment request will be your responsibility. Any stop payment order transmitted to us will replace any prior order submitted to us through alternative communication methods, such as in person or by phone. No stop payment order will be deemed received by us until one of our employee or officer has read and approved the stop payment instruction. And, no stop payment order will be effective against a check that has been paid prior to the time that the Bank has both received the order and had a reasonable period of time to respond to the order. You understand that you will be responsible for determining whether a check has or has not been paid. Stop payment is not guaranteed.
     
    When you submit a stop payment order through the Services, you agree to review the prior account statements to determine whether the check to which the stop payment order relates has or has not already been paid. You understand that the stop payment will remain in effect for six (6) months, and must be renewed every six months to remain in effect. If you do not renew the stop payment order when it expires and the check is presented for payment, we may pay the check and charge it to your account. You may cancel your stop payments by contacting our nearest branch or by writing to us at:
                   Shinhan Bank America
                   Operations Support Team
                   330 Fifth Ave. 4th Fl.
                   New York, NY  10001
     
    There is a fee for add or cancel Stop Payment, refer to the Fee Schedule.
     
  4. Liability
     
    1. Liability for Unauthorized Use

      You agree to notify us immediately if you believe your User ID, Password, Personal Identification Number (PIN) or Telephone Access Code (TAC) has become known or an unauthorized transaction has occurred involving your account. Telephoning is the best way of keeping your possible losses to a minimum. Please call us at (646) 843-7353 or (213)251-3050, or write to us at: Shinhan Bank America, Operations Support Team, 330 Fifth Ave. 4th Fl., New York, NY  10001.

      If your account is a Deposit Account:

      If you notify us within two Business Days after you learn that your User ID, Password, PIN or TAC may have become known by an unauthorized person, you can lose no more than $50.00 if an unauthorized person uses your User ID, Password, PIN or TAC without your permission to initiate a transaction. If you do not notify us within two Business Days, and we can prove that we could have stopped someone from using your User ID, Password, PIN or TAC without your permission if you had told us, you could be liable for as much as $500.00.
      Also, if your statement shows Transfers or Payments that you did not make or authorize, notify us at once. If you do not notify us within 60 days after the first statement reflecting the disputed transaction was mailed to you, you may not recover any money you lose after the 60 days (in addition to the above amounts) if we can prove that we could have stopped someone from taking the money if you had notified us in time. If a good reason (such as a long trip or hospital stay) kept you from notifying us, we may extend the time periods.
       
    2. Bank's Liability for Failure to Make Payments or Paying Late

      If we do not send a Payment or make a Transfer on time, or in the correct amount according to your instructions given in accordance with this Agreement and the transaction relates to a Consumer Deposit Account, we will be liable for your proximate caused damages except as noted below.
      Except as required by law for Consumer Deposit Accounts or as otherwise set forth in the section on On Time Guarantee, we will not be liable for any loss relating to any Deposit Account, any other account with us or the Service. For instance, Bank shall not be liable if, through no fault of ours, you do not have enough available funds in your Deposit Account to make the Payment or Transfer or the Payment or Transfer would exceed any permitted overdraft protection you have with us; or circumstances beyond our control (such as fire, flood, water damage, power failure, strike, labor dispute, acts of war, computer breakdown, telephone line disruption, or a natural disaster) prevent or delay the transaction despite reasonable precautions taken by us; or your computer, your telephone, the phone lines, or the Bank's computer systems are not working properly or are temporarily unavailable, and this problem should have been apparent to you when you attempted the Transfer or Payment; or the funds in your Deposit Account are subject to legal process, an uncollected funds hold, or are otherwise not available for withdrawal; or the information supplied by you or a third party involving the Deposit Account, Payment or Transfer, is incorrect, incomplete, or untimely; or we have a reasonable basis for believing that unauthorized use of your User ID, Password, PIN or TAC account has occurred or may be occurring; or the Payee does not process a Payment promptly or correctly; or for any other reason specified in this Agreement.

      Without limiting the foregoing and except as specifically provided herein, the Bank shall also not be liable for late charges, interest, penalties or other amounts incurred by any Depositor for the Depositor's failure to allow sufficient time for processing and delivery of any Transfers or Payments so long as the Bank has complied with the provisions of this Agreement.

      Unless otherwise required by Law, the Bank will not be liable to you under any circumstances for special, indirect, or consequential damages, including, without limitation, lost profits or attorneys' fees, even if we are advised in advance of the possibility of such damages.
       
    3. Reporting Unauthorized Transactions, Payment Problems, Errors or Questions

      If you find any discrepancies or if you think the transaction information is wrong in your statement, please call or write to us or send a message via secure message system as soon as possible. We must hear from you no later than 60 days after we send the first statement on which the problem or error appeared. You may reach us at 646-843-7353 or 213-251-3050, Shinhan Bank America, Operations Support Team  330 Fifth Ave. 4th Fl., New York, NY 10001. You should provide your name, account number, the dollar amount of suspected error, and describe the error and explain as clearly as you can why you believe it is an error or why you need more information.
      If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) Business Days. If your complaint or error is with regard to a your deposit account: We will tell you the results of our investigation within 10 Business Days (or 20 Business Days if the transaction occurs while your account is a "new account" under Regulation E) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 calendar days (or 90 calendar days for a transaction on a new account) to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within ten Business Days (or 20 Business Days in the case of a transaction on a new account) for the amount you think is in error. You will have the 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 Business Days (or 20 Business Days in the case of a transaction on a new account), we may not provisionally credit your account. If we decide that there was no error, we will revoke any provision credit and send you a written explanation within three Business Days after we finish our investigation. You may ask for copies of the documents we used in our investigation.

      As an Online Banking customer, you agree that the bank may respond to you by the secure message system with regard to any claim of error or unauthorized electronic fund transfer or any question related to the Services. You will be deemed to have received any such message within three days of the date sent by the Bank, regardless of whether you log on to the Service within that time frame.

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