WORLD WIDE BANKER CASH MANAGEMENT DISCLOSURE STATEMENT 

 

In this agreement, “you’ and “your” refer to each person or business entity that uses the Cash Management service.  This disclosure states the terms and conditions that apply when you use The Bank of Elk River’s World Wide Banker Cash Management service.  These terms and conditions are in addition to those that apply to any accounts you have with The Bank or any other services you obtain from The Bank.  By signing the World Wide Banker Cash Management Agreement, you agree to follow the terms, conditions, instructions, and procedures applicable to the services described in this disclosure.

 

CASH MANAGEMENT ADMINISTRATOR

You will identify an Administrator with the responsibility and authority to authorize other Users to use World Wide Banker and Cash Management.  The Administrator will have access to all accounts on your World Wide Banker Agreement and all Cash Management functionality.  Functions include, but are not limited to; viewing and printing account activity, transferring funds between accounts, initiating ACH transactions, bill pay, eScan deposit, wire transfers and positive pay.  Further, the Administrator will have control over whom is an Authorized User.

 It is your responsibility to maintain the integrity and confidentiality of your World Wide Banker and Cash Management identification numbers and passwords (PINs).  The Bank may rely on the instructions of any Authorized User; The Bank will not ordinarily confirm the authority of persons obtaining reports, transferring funds, initiating transactions, or engaging in any activities on the World Wide Banker Cash Management service.  All acts performed and transactions initiated by an Authorized User are solely your responsibility.  You shall not hold The Bank responsible or liable for any damages, losses or injuries you may sustain as a result of any use, authorized or unauthorized, of your World Wide Banker Cash Management identification numbers, passwords (PINs), or secure tokens.

Your Cash Management Administrator may notify The Bank, in writing, that a particular person is no longer an Authorized User, though The Bank requires a reasonable opportunity to act on such information.  It is possible that acts may be performed or transactions initiated during a brief period after such notification to The Bank, and such acts and transactions will still be considered authorized acts or transactions. 

  

CASH MANAGEMENT USERS

 

Authorized Users may obtain information, transfer funds, and initiate transactions through the Cash Management service.  All acts performed and transactions initiated by an Authorized User are solely your responsibility and The Bank may rely on the instructions of any Authorized User.  If The Bank receives conflicting instructions, or if The Bank believes that Cash Management service security may be at risk, The Bank may suspend or terminate any Authorized User, without prior notice to such person or any account owner. 

 

CASH MANAGEMENT TRANSACTIONS

 

Requirements for access or for particular transactions which would require the physical presence of one or more persons if performed at a traditional teller, such as verifying two or more signatures on an item or comparing signatures to confirm identity will not apply to acts and transaction(s) through the Cash Management service.  If you make a person an Authorized User, that person has the ability to perform the functions authorized by the administrator through the Cash Management service, regardless of any other instruction or agreement you may have with The Bank.

 

CASH MANAGEMENT FEES

 

A schedule of fee(s) is set forth below.  You agree to the terms of this service and to the schedule of fee(s) that may be imposed.  You authorize The Bank to deduct these fees from the accounts indicated.  The Bank may change our fees from time to time upon written notice to you.

 

Cash Management Monthly Maintenance Fee............................... 0.00

Two Free Secure Tokens. Each Additional……..………………………….10.00

Auxiliary Products Available (Additional Fees Apply)

  • ACH Origination
  • eScan Deposit (account analysis)
  • Positive Pay
  • Wire Transfers
  • Bill Pay (Secure Token not required)

 

CASH MANAGEMENT SECURITY

 

If you believe your World Wide Banker, Cash Management identification number, password (PIN) or secure token have been lost or stolen, or that someone has used them without your authorization, call The Bank immediately at (763) 241-8522.  Immediate notification is the best way of reducing your possible losses.

 

 

 

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