Internet Banking User Agreement

Internet (Online) Banking User Agreement 

mBank hereby publishes the following terms and conditions for the use of Internet Banking. mBank reserves the right to modify these terms and conditions at any time. The use of Internet Banking services constitutes agreement to these terms and conditions and the modification thereof.

This Agreement, as well as applicable Federal Regulatory disclosures and the Deposit Account Terms and Conditions of mBank govern all Internet Banking Services offered by mBank.

General Use

  • User certifies that they are at least 18 years of age.
  • User agrees to comply with the requirements of any help screens, instructions, on-line documentations, or other on-line user terms and conditions, which may be modified at any time.
  • User agrees that anyone with an ownership interest in your accounts, including joint owners, may access those accounts, unless mBank is instructed to the contrary in writing.
  • If User has a business account, User is liable for all transactions that occur on the account. The owner of the business account agrees to be liable for any transactions by other parties that have been authorized by giving the PIN or Password to the other parties.
  • mBank reserves the right to monitor and review transmissions on-line and in storage, and to remove or reject any materials, at its sole discretion, believes may be unlawful or objectionable, without prior notice to User.
  • Transmission of confidential business and sensitive personal information is at User’s sole risk.
  • mBank has the right to obtain a current consumer report in connection with this Agreement. mBank has the right to report to others its credit experience with User.

User Codes

mBank recommends that you follow some general guidelines to safeguard your User ID and Password.

  • Do not walk away from your computer while still logged on to Internet Banking.
  • Do not share your codes with anyone, even if they identify themselves as an employee of mBank. Under no circumstances does mBank need your password. You are responsible for any transactions made or authorized using your PIN or Password.
  • Choose codes that are easy to remember, but not easy for someone else to guess.
  • You should memorize your codes if you can.
  • Contact mBank immediately if you believe your codes have been lost, stolen or compromised in some way. To notify us, call mBank at (906)341-8401 or write to mBank Operations Department, 130 S. Cedar Street, Manistique, MI 49854 or email us at ops@bankmbank.com – be sure to include your email address.
  • You may ask mBank to disable your PIN or Password at any time.
  • You may request a new Pin and Password be issued to you.
  • A new Pin and Password can now be emailed without having to speak to a customer service representative.

Types of Transfers

Please keep in mind that Federal regulations allow only six (6) transfers or withdrawals per statement cycle from savings accounts.

You may perform the following transactions by using Internet Banking:

  • Get balance and transaction history on your deposit accounts.
  • Get balance and transaction history on your loan accounts.
  • Transfer funds from one checking account to another checking account.
  • Transfer funds from a checking account to a savings account.
  • Transfer funds from a savings to a checking.
  • Transfer funds from a savings to a savings.
  • Transfer funds from your checking account to your loan account with us.
  • Transfer funds from your savings account to your loan account with us.
  • View and print checks and deposit slips that have posted on your account.
  • Request Stop Payments be placed on your checking account.

Business Hours

The term “business day” means all days except Saturday, Sunday and all banking holidays. Transactions made on a weekend or holiday, are processed on the next business day.

Transaction Documentation

mBank will not provide any receipt or documentation of transactions other than your regular monthly account statements.

Termination or Discontinuation

If this Agreement is terminated, mBank will not allow any additional transactions on the account, nor will additional Internet Banking services be permitted.

No future transfers will be made; including but not limited to any transfers scheduled in advance or any pre-authorized recurring transfers.

Changes in Service

In order to take advantage of other Internet Banking services mBank may offer in the future you understand that you must complete this Agreement and establish basic Internet Banking services with mBank. All services added later are covered under this Agreement.

ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Funds Transfers Initiated By Third Parties - You may authorize a third party to initiate electronic funds transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearinghouse (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant posts a sign informing you of their policy. In all cases, the transaction will require you to provide the third party with your account number and financial institution information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your financial institution and account information (whether over the phone, the internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic funds transfers. Examples of these transfers include:


Preauthorized credits – You may make arrangements for certain direct deposits to be accepted into your checking, savings or money market account.

Preauthorized payments – You may make arrangements to pay certain recurring bills from your checking or savings.

ATM Card Transactions – types of transactions – You may access your account(s) by ATM using your ATM card and your account number and personal identification number (PIN) to:

  • Deposit funds to checking, savings or money market
  • Withdraw cash from checking, savings or money market
  • Transfer funds from checking to checking
  • Transfer funds from checking to savings
  • Transfer funds from savings to checking
  • Transfer funds from savings to savings

Some of these services may not be available at all terminals.

Debit Card ATM Transactions – types of transactions – You may access your account(s) by ATM using your Debit Card and your account number and personal identification number (PIN) (as applicable) to:

  • Withdraw cash from checking or savings
  • Transfer funds from savings to checking
  • Transfer funds from checking to checking
  • Transfer funds from savings to savings

Some of these services may not be available at all terminals.

Debit Card Point-of-Sale Transactions – types of transactions – You may access your checking or your savings or money market account(s) by debit card to:

  • Purchase goods in person or by phone
  • Pay for services in person or by phone

Limits and Fees – Please refer to our fee disclosure for information about fees and limitations that may apply to these electronic fund transfers.

ATM Operator/Network Fees – When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

Limitations on Frequency of Transfers – In addition to those limitations on transfers elsewhere described, if any, the following limitations apply to your savings, money market account(s):


Transactions limited to 6 withdrawals per calendar month or statement cycle of at least four weeks by means of pre-authorized transfer, automatic transfer, internet banking transfer or telephone order or instruction. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the financial institution.

Option to Limit Cash Withdrawals – In addition to any dollar limitations for withdrawals that we may establish, you have the option to limit the amount of cash that can be withdrawn using your ATM card or Debit card to $50 per day or some other amount acceptable to us.

Minimum Account Balance – We do not require you to maintain a minimum balance in any account as a condition of using an access device (card or code) to accomplish a transfer.

Other Terms

Additional ATM Fee Information – mBank may also charge a fee for use of a non-propriety ATM.

Documentation

Terminal Transfers – You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point-of-sale terminals.

Preauthorized Credits – If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (906)341-8401 to find out whether or not the deposit has been made.

Periodic Statements – You will get a monthly account statement from us for your checking account(s). You will get a monthly account statement from us for your savings account(s), unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

Preauthorized Payments

Right to stop payment and procedure for doing so – If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:
Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

Notice of varying amounts – If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set).

Liability for failure to stop payment of preauthorized transfer – If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Financial Institution’s Liability

Liability for failure to make transfers – 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 will be liable for 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 you have an overdraft line and the transfer would go over the credit limit.
  3. If the automated teller machine where you are making the transfer does not have enough cash.
  4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
  6. There may be other exceptions stated in our agreement with you.

Confidentiality

We will disclose information to third parties about your account or the transfer you make:

  1. Where it is necessary for completing transfers; or
  2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
  3. In order to comply with government agency or court orders; or
  4. As described in our privacy policy disclosure, provided separately.

Regulatory Authority

If you believe that any provision of the Michigan Electronic Funds Transfer Act has been violated you should notify the Michigan Financial Institutions Bureau at Grandview Plaza 5th Floor, Lansing, MI 48909 and/or the Federal Deposit Insurance Corporation at Regional Office, Chicago, IL 60661.

Unauthorized Transfers

Consumer Liability – Tell us at once if you believe your card and/or code 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 overdraft line of credit). If you tell us within two business days, you can lose no more than $50 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission).

If you do not tell us within two business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code 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 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 stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time period.

Contact in event of unauthorized transfer – If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this disclosure.

Error Resolution Notice

In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed in this disclosure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

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

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.


We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that 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 10 business days, we may not credit your account.

Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before the account is opened.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may also ask for copies of the documents that we used in our investigation.

If you have inquiries regarding your account, please contact us at:

mBank
Operations Department
130 S Cedar Street
Manistique, MI 49854

Business Days: Monday, Tuesday, Wednesday, Thursday and Friday
Holidays are not included

Phone: 906-341-8401

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