Rock Canyon Bank

Online Home Banking and Bill Payment Agreement

and Electronic Funds Transfer Disclosure Addendum

GENERAL

This Online Home Banking and Bill Payment Agreement (“Agreement”) describes the terms and conditions governing the use of Rock Canyon Bank's Online Home Banking and Bill Payment Services and other banking services offered via the Internet through Rock Canyon Bank (collectively, the “Online Banking Services”).  By using the Online Banking Services you agree to abide by the terms and conditions of this Agreement.  This Agreement will be governed by and interpreted in accordance with federal law and regulation, and to the extent there is no applicable federal law or regulation, by the laws of the State of Utah.  The terms “our,” “we,” “us,” and “Bank” refer to Rock Canyon Bank.  “You” and “your” refer to each and all singers on an account.

The terms “bank business day” or “business day” means Monday through Friday, excluding Federal and State of Utah legal holidays.

Online Banking Services can be used to access products and services made available by Rock Canyon Bank.  If not plainly stated, all time references in this Agreement refer to the Mountain Time Zone.

This Agreement does not change in any way other agreements you received for deposit accounts, loans, lines of credit, debit cards or other account services you receive from the Bank. You should review all your agreements and disclosures for any limitations on the number of transfers you can make or any other transaction limitations that may impact your use of certain accounts with respect to the Online Banking Services.

ADDITIONAL DEFINITIONS

"Account" means any account you maintain at Rock Canyon Bank, including any consumer or commercial loans held at the Bank.

"Bill Payment Account" means the Account you have authorized us to debit for payments made to Payee(s) and service charges (if any) in connection with the Bill Payment Service.

"Internet Password" or “Password” means the confidential identification code selected by you for identification and authentication purposes required to use the Online Banking Services.

"User ID" or "Customer Number" means your Social Security Number or Federal Tax Identification Number for your login, and your chosen login ID thereafter.

GOVERNING LAW, LITIGATION AND ARBITRATION

This Agreement is delivered to us and accepted by us in the State of Utah. Subject to the provisions of this paragraph, any action or suit brought in connection with this Agreement or the transactions contemplated herein may be brought in the State or Federal courts of record having jurisdiction in Utah County, Utah, the parties hereto irrevocably submitting and consenting to the non-exclusive jurisdiction of each thereof, and each party irrevocably waives, to the fullest extent it may effectively do so under applicable law, any objection it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that the same has been brought in an inconvenient forum. IN THE EVENT OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE, YOU AND WE KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ALL RIGHTS TO A TRIAL BY JURY AND AGREE THAT YOU OR WE MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE FOREGOING WAIVER. BY COMPLETING ENROLLMENT TO USE, AND BY USING THE ONLINE BANKING SERVICES REFERENCED IN THIS AGREEMENT, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS AGREEMENT.

PROTECTING YOUR ACCOUNTS

A. Notification of Unauthorized Transactions

It is your responsibility to notify us at once if you believe another person has improperly obtained your Password.  Also notify us if someone has transferred or you think someone may transfer money from your account without your permission, or if you suspect any fraudulent activity on your account.  Notify us directly at 801-222-9006 or write Rock Canyon Bank, Customer Service Dept., 1376 North State Street, Orem, Utah 84057.  Please refer to the Deposit Agreement of the affected account for limits of liability and complete disclosures.

B. Preventing Misuse

Protect your Internet Password – The Password is used to gain access to the Online Banking Services and should be kept confidential at all times.  For your protection we recommend that you change your Internet Password regularly.  It is recommended that you memorize this Password and do not write it down.  You are responsible for keeping your Password, account numbers and other account data safe and confidential.  We are entitled to act on transaction instructions received using your Password, and you agree that the use of your Password will have the same effect as your signature authorizing the transaction.

ACCESSING YOUR ACCOUNTS

A. Requirements

To access your account(s) through the Online Banking Services, you must have an eligible Rock Canyon Bank account, enroll in the Online Banking Services, have an established Internet E-mail address, and an Internet Password.  In addition, you must have an approved Internet browser with the proper security settings as defined by the Bank.

You agree to assume responsibility for all transactions up to the limits allowed by applicable law.  We are not responsible for any errors or failures from any malfunction of your computer, or any virus or other problems related to the use of the Online Banking Services, nor are we responsible for any error, damages, or other loss you may suffer due to malfunction or misapplication of any system you use, including your Internet browser software, your Internet Service Provider, your software, or any equipment you may use  to access the Online Banking Services or to communicate with the Bank, including but not limited to, your telecommunications facilities, computer hardware, network device, and modem.

B. Electronic Mail

Sending electronic mail (“E-mail”) through the Internet is a way to communicate with the Bank.  You may use E-mail to ask general questions and to provide feedback to the Bank.  However, you can not use E-mail to initiate transactions on your account(s), change your address or other contact information, or add signers to your account(s).

We will not immediately receive E-mail messages sent to us. You should not rely on E-mail if you need to communicate with us immediately, i.e., if you need to report an unauthorized transaction in your account(s) or if you need to stop a payment that is scheduled to occur. If you send us an E-mail, we will be deemed to have received it on the next business day, and we will have a reasonable time to act on any valid request made therein. You agree that we may respond to you by E-mail with regard to any matter related to the Online Banking Service, including responding to any claim of unauthorized electronic funds transfer that you make. Any such E-mail sent to you by us shall be deemed received within three (3) business days of the date sent by us.

C. New Services

Rock Canyon Bank may, from time to time, offer and introduce new Internet services.  The Bank will attempt to notify you of the existence of these new products and services.  By using these services when they become available, you agree to be bound by the rules, which will be communicated to you, concerning these services.

D. Fees

There are no fees for accessing your account(s) through the Internet.  However, fees, as described in the applicable product or account disclosure statement or Services brochure, may apply to services ordered online or otherwise.

Please be aware that fees may be assessed by your Internet service provider.

TRANSFERS

A. Electronic Funds Transfer Disclosures

Please refer to the Regulation E and Electronic Funds Transfer Disclosure(s) provided with your account disclosure documents for important information regarding your and our rights and obligations pertaining to electronic funds transfers.  This Agreement does not replace these important disclosures, but rather is an addendum to the disclosures you have already received.

B. Account to Account Transfers

In addition to viewing account information, you may use the Online Banking Services to transfer funds between your Internet-enabled accounts.  Please refer to your account disclosure documents for limits pertaining to pre-authorized transfers or other limitations. 

C. Cut-Off Times

Due to processing volume and equipment functionality, the time transactions will be processed and posted to accounts may fluctuate from time to time.  Therefore, as a general rule, transfers submitted before 7 PM (Mountain Time) on a business day will be processed and posted to your account on the same day.  All transfers completed after 7 PM (Mountain Time) on a business day or on a Saturday, Sunday, or banking holiday, will be posted on the next business day.

Our business days are Monday through Friday, except for bank holidays which include all federal and the State of Utah legal holidays.

D. Insufficient Funds

If your account has insufficient funds to complete all funds transfers (including ATM withdrawals, preauthorized transactions, Rock Canyon Bank Internet Banking transfers and bill payments, etc.) you have scheduled for a given business day, then certain electronic funds transfers involving currency disbursements, like ATM withdrawals, will have priority.  Electronic funds transfers initiated through the Online Banking Services may result in an overdraft of your account and may, at Rock Canyon Bank’s discretion, be returned or canceled.  In addition, you may be charged any overdraft fees that apply to your account.

E. Fees

There are no fees for transferring funds between your linked Rock Canyon Bank accounts through Online Home Banking.  However, fees, as described in the applicable account disclosure statements, may apply to products and services purchased online.

F. Documentation

The bank will not provide any receipt or documentation of the transfer other than the regular account statement.

TERMS AND CONDITIONS

You must agree to accept the terms and conditions of this Agreement during enrollment in the Online Banking Services.  In addition, the first time you access your Rock Canyon Bank account(s) trough the Internet you re-affirm your consent to be bound by all of the terms and conditions of this Agreement.  Your use of the Online Banking Services acknowledges your receipt and understanding of this disclosure.

A. Our Liability

Except as specifically provided for in this Agreement, or where the law requires a different standard, you agree that neither the Bank, its service providers, nor the Internet Service Providers shall be responsible for any loss, property damage or bodily injury, whether caused by the Bank, equipment, software or Internet Service Providers or any agent or subcontractor of any of the foregoing.  Nor shall the Bank, its service providers, or the Internet Service Providers be responsible for any direct, indirect, special or consequential, economic or other damages arising in any way out of the installation, use or maintenance of the equipment or software.  The Online Banking Services and any related services or products are being provided on an “as is” basis and Rock Canyon Bank specifically disclaims any and all warranties, express or implied relating thereto, including warranties of fitness for a particular purpose, merchantability, course of dealing, and usage of trade.

B. Changes to Fees or Other Terms

We reserve the right to change fees or other terms described in this Agreement.  However, when changes are made to any fees, we will notify you online, or will send a notice to you at the address shown on our records, or send you an electronic mail message (E-Mail).  All notices will be sent at least thirty (30) days in advance of the effective date of the change, unless an immediate change is necessary to maintain the security of the system, and you will be deemed to have received the notice three (3) days after it is sent.  If such a change is made, and it can be disclosed without jeopardizing the security of the system, we will provide you with written or electronic notice within thirty (30) days after the change.  As always, you may choose to accept, or decline the changes.  By continuing to use the accounts or services to which these changes relate, you are accepting the changes.  Changes to fees applicable to specific accounts are governed by the applicable account disclosure statement.

C. Other General Terms

The Bank reserves the right to terminate this Agreement and your access to the Online Banking Services in whole or in part, at any time without prior notice.  If you do not access your accounts via the Online Banking Service for any six (6) month period, your service will be disconnected without notice.

You may cancel the Online Banking Services by contacting us in person at any of our office locations, or in writing Rock Canyon Bank, Customer Service Dept., 1376 North State Street, Orem, Utah 84057.  You must provide your name, address, whether you are discontinuing Bill Payment or all Online Banking Services, and the effective date to stop the service. In order to terminate the Bill Payment Service, you must delete prescheduled bill payments made through this service. You may be subject to additional monthly charges for the Bill Payment Service if it is closed in the middle of a billing cycle.

You agree to be responsible for any telephone charges or other Internet access fees incurred for accessing your accounts through the Online Banking Service.

D. Payment Account

You may be asked to designate a payment account for selected services such as Bill Payment.  You agree to pay promptly all fees and charges for services provided under this Agreement, and authorize the Bank to charge the account that you have designated as the payment account.

If you close the payment account, you must notify the Bank and identify a new payment account for the selected services.

E. Hours of Operation

Online Banking Services are generally accessible 24 hours a day, seven days a week, except when Services may be inaccessible for a reasonable period for system maintenance. We are not liable under this Agreement for failure to provide access due to a system failure or due to other unforeseen acts. We may modify, suspend or terminate access to the Online Banking Services at any time and for any reason without notice.

F. Disclosure of Information to Third Parties

We will disclose information to third parties about your account(s) or the transfer(s) you make: 1)Where it is necessary for completing transfers; 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 government or court orders, or other reporting requirements; 4)If you give us your written permission; 5)To our affiliated companies, if any. Information concerning your account history with us will be shared within our organization. Other information, including information you have given us as part of an application for one of our products or services, or information we have received from a credit bureau or other third party, also may be shared among affiliated companies within our organization and in accordance with the provisions of the Gramm-Leach-Bliley Act of 1999.

ELECTRONIC BILL PAYMENT AUTHORIZATION

You authorize Rock Canyon Bank to post payment transactions generated by PC from the Bill Payment Service to the Bill Payment Account indicated on the form being sent electronically. You understand that you are in full control of your account(s), and that if you decide to discontinue service at any time, you will provide written notification to Rock Canyon Bank. Your use of the Bill Paying Service signifies that you have read the terms and conditions of the foregoing Online Home Banking and Bill Payment Agreement, which have been provided to you electronically by Rock Canyon Bank.

You understand that payments may take up to ten (10) business days to reach the vendor and that they will be sent either electronically or by check. Rock Canyon Bank is not liable for any service fees or late charges levied against you.

You understand that you are responsible for any loss or penalty ($) that you may incur due to the lack of sufficient funds or other conditions that may prevent the withdrawal of funds from your account.  By using the Bill Payment Services provided by Rock Canyon Bank you agree to these terms, and the terms of the Electronic Bill Payment Agreement and Disclosure which have been provided to you electronically by the Bank.

Furthermore, you understand that you may initiate bill payments in any amount from $1.00 to $9,999.00. All payments made will be deducted from the Account you designate as your Bill Payment Account for the Bill Payment Service. Any payments you wish to make through this service must be payable in U.S. dollars to a payee located in the United States. We reserve the right to restrict types of payees to whom payments may be made using the Bill Payment Service from time-to-time. You should not use the Bill Payment Service to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility if delayed or improperly processed or credited.

You understand that funds must be available in your Bill Payment Account on the scheduled payment date. If the date you scheduled a payment to be initiated falls on a non-business day (Saturday, Sunday, or holiday as outlined above), funds must be available in your Bill Payment Account the following banking business day. After funds are withdrawn from your Bill Payment Account to make a payment, we may make the payment either by transferring funds electronically to the payee or by mailing a check.  You should schedule payments to new payees at least ten (10) business days before any payment due dates. For all subsequent payments, you agree to allow at least ten (10) business days between the date you schedule a payment to be initiated and the payment due date (that is, the due date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period). If you do not, you may be fully responsible for all late fees, finance charges, or other action taken by the payee. If you schedule your payment and follow all instructions provided, but the payee does not receive the payment in a timely manner, we will work with the payee on your behalf to attempt to have any late fees or charges reversed.

We will only be responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. We will not be liable in any way for damages you incur if you do not have sufficient funds in your Bill Payment Account to make the payment in the processing date, for delays in mail delivery, for changes to the payee's address or account number unless you have advised us of the change sufficiently in advance, for the failure of any payee to correctly account for or credit the payment in a timely manner, or for any other circumstances beyond our control. If the session during which you schedule a payment or transfer ends by 7 PM (MT), we will consider to have received it on that day. Otherwise, it will be considered received on the following business day.

For all entries made using the Bill Payment Service, the Bank recognizes the time recorded by the Bill Payment Service controls. If your Bill Payment Account does not have sufficient funds to make a payment as of the date the transfer is attempted or scheduled, the transfer or payment may be canceled and no further attempt will be made by us to make the transfer or payment. We will attempt to notify you by e-mail or U.S. Postal Mail, but we shall have no obligation or liability if it does not complete a transfer or payment because there are insufficient funds in your account to process a transaction. In all cases, you are responsible for either making alternate arrangements for the payment or rescheduling the payment through the Bill Payment Service. In the case of fixed payments, only the payment currently scheduled will be canceled. Fixed payments scheduled for future dates will not be affected.

The way to cancel or change a payment is to use the Bill Payment Service. Payments must be changed or canceled using the Bill Payment Service prior to the business day the transaction is scheduled to take place. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a stop payment fee. Stop payment orders, whether oral, written, or electronic, will be in effect for a period of six (6) months. If requested by us, you will confirm any stop payment order in writing. After six (6) months, any stop payment will terminate and must be renewed in order to continue in effect. We may pay any item that is presented following the lapse of any stop payment order.

We process the payments you make through the Bill Pay Services in one (1) of the following ways: We may send payments through an electronic transmission to the payee. Payees who receive electronic delivery will receive your payment information, including your account number, through a computer link. Payments made electronically are generally received and credited by most payees within three (3) business days. We may also send payments by a bank check mailed to the payee. When more than one customer schedules a payment to the same payee on the same date (which frequently happens), we may issue a consolidated check to the payee with an accompanying paper list of each customer by name, of each account number to be credited, and of the amount of each payment. We send all checks through the U.S. Postal Mail system. Payments made with a bank check are generally received and credited by most payees within five (5) to ten (10) business days. However, from time to time we may receive instructions from a payee that directs us, in order to ensure the timely processing of your payment, to send your payment to an address other than the one that you provided us, or that direct us to make your payment electronically rather than by check, to an account owned by the payee at another financial institution. When we receive such payment instructions from the payee, we may follow those instructions, to help ensure that your payment is received by the payee and promptly credited to your account.