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American Bank is pleased to offer ACH Direct as an additional and valuable online banking feature. You may use this service to transfer funds electronically through the Automated Clearing House (ACH) from your account(s) at other U.S. financial institutions to eligible American Bank accounts. It is easy to do and FREE of charge.
YOUR ACCEPTANCE OF THE e-DISCLOSURE AGREEMENT
Before you register for the ACH Direct service, you must consent to receive certain notices and disclosures relating to ACH Direct electronically rather than in paper form.
Please read the e-Disclosure Agreement carefully and keep a copy for your records.
Once you have consented to the terms of the e-Disclosure Agreement, you will be asked to review the ACH Terms and Conditions.
ELIGIBLE CUSTOMERS AND ACCOUNTS
ACH Direct is available only to individuals. To be eligible for this service, you will be required to have:
- An American Bank personal checking, savings or money market account that you have registered through the pcbanker service.
- A personal checking, savings or money market account with another U.S. financial institution.
- Signature authority as an account owner both on the American Bank account(s) and on the other U.S. financial institution’s account from which you wish to transfer funds.
American Bank may from time to time amend the criteria used to determine your eligibility to use the ACH Direct service.
HOW TO REGISTER
To register for and activate the ACH Direct service, you will be required to:
- Complete the registration form online, providing the required information for each U.S. financial institution from which you wish to transfer funds. You must have signature authority as an account owner both on the American Bank checking, savings or money market account and on the other U.S. financial institution checking, savings or money market account from which you will transfer funds.
- Print a copy of your completed registration form. It will include your confirmation number.
- Send a copy of your completed registration form, including your confirmation number, to American Bank by U.S. Mail, along with a voided check from each checking or money market account or pre-printed deposit ticket or a copy of your statement for each savings account at your other U.S. financial institution.
Send these materials to:
American Bank
Attn: Customer Service
4029 W. Tilghman Street
Allentown, PA 18104
For security purposes, within three (3) business days after we receive your completed registration form, we will initiate a test ACH transaction by depositing a very small sum to your checking, savings or money market account at the other U.S. financial institution.
In order to verify that the ACH information we are using is valid, we require that you obtain the following information from your other financial institution for each account you are registering and enter the following information online into American Bank’s ACH Direct service:
- Effective date of deposit
- Amount deposited
You must enter and confirm the foregoing information through American Bank’s ACH Direct service within 15 business days after submitting your original registration form to the Bank.
After we receive your voided check or pre-printed deposit ticket, we will confirm and approve the above information. This information must be received with 15 business days after submitting your original registration form to the Bank. Upon your registration being approved, we will activate your access to the ACH Direct service and you will be able to use the ACH Direct service upon receipt of notification from the Bank by electronic mail.
ACH DIRECT TERMS AND CONDITIONS
This ACH Direct Agreement (the “Agreement”) provides the terms and conditions governing the use of the ACH Direct service that is available, through pcbanker, to transfer funds electronically from another U.S. financial institution to an eligible account at American Bank (the “Bank”) (also referred to as “we”). The Agreement is made and entered into between the Bank and each individual customer who registers and is approved to use the ACH Direct service (also referred to as “you”). In addition, the Bank’s Regulation “E” Electronic Fund Transfer Disclosure contains certain other terms and conditions applicable to your use of the ACH Direct service and is incorporated in this Agreement by reference.
By clicking the “I ACCEPT” button, you agree to abide by the terms and conditions of this Agreement (as amended from time to time), as well as the terms, conditions, agreements, fee schedules and disclosures applicable specifically to the ACH Direct service, including, but not limited to, the Bank’s pcbanker Agreement (as amended from time to time), as provided on the Bank’s Internet web site. Your account(s) with the Bank will remain subject to their individual terms and conditions, which are not modified by this Agreement. When you click on the “I accept” button, you affirmatively consent to receive electronic notification, when you access the ACH Direct service through pcbanker, of any amendments to this Agreement and the ACH Direct Terms and Conditions.
ACH Direct allows you to schedule ACH debits through pcbanker. Upon requesting an ACH Direct debit transaction, you are authorizing the Bank to initiate an electronic transfer through the Automated Clearing House (ACH) in the form of a debit against your eligible account at another U.S. financial institution. You may request the Bank to initiate an ACH Debit (to withdraw funds) from another U.S. financial institution and have such funds deposited into an American Bank checking, savings or money market account for which you are an authorized signer, on a one-time or recurring basis. The Bank will not authorize a request to initiate an ACH debit between two accounts unless you have signature authority as an owner on each account. Nor will the Bank authorize a request to initiate an ACH debit between personal and business accounts.
For security purposes, the Bank has established various types of limits relating to the ACH debits that you may initiate (“Debit Requests”). The current limits include the following:
- You must initiate a Debit Request no later than 4:00 p.m. Eastern Time one (1) business day -- that is, any day except Saturday, Sunday or a banking holiday -- before the Post Date. (The “Post Date” means the date on which you want your Debit Request to be processed and credited or posted to your account at American Bank).
Example: If you want to have the incoming funds credited to your account at American Bank on a Wednesday, you must initiate the Debit Request no later than 4:00 p.m. on the Tuesday preceding that Wednesday.
Note: Your funds will not be available for withdrawal on the date that they are credited to your account at the Bank. Please read the discussion of Funds Availability below regarding the date on which the credited funds will be available for withdrawal from your account at the Bank.
- If you initiate a Debit Request after 4:00 p.m. Eastern Time on a business day (or on Saturday, Sunday or a banking holiday), it will be processed on the second (2nd) business day thereafter.
Example: If you initiate your Debit Request after 4:00 p.m. Eastern time on a Monday, the Debit Request will be processed, and the incoming funds credited to your account at American Bank, on Wednesday of that week.
Note: Your funds will not be available for withdrawal on the date that they are credited to your account at the Bank. Please read the discussion of Funds Availability below regarding the date on which the credited funds will be available for withdrawal from your account at the Bank.
- The minimum transaction amount that you may request is $10.00 and the maximum transaction amount is $25,000.
The Bank reserves the right to modify the foregoing limits or to establish additional limits.
FUNDS AVAILABILITY
Each ACH Direct Debit Request made through the ACH Direct service will be credited to your American Bank account on the Post Date and will become available for withdrawal on the 2nd business day after the Post Date.
You agree to have sufficient available funds in your account at the other U.S. financial institution to process the debits you initiate and further agree that if any such ACH debit is returned to American Bank for any reason, your American Bank account will be debited in the amount of any previous credit related to the returned item, and we reserve the right to assess your account a return deposit item fee. You are liable for any account deficit and agree to promptly pay American Bank any funds due. You agree in this regard that the Bank may deduct such amounts from your American Bank account without prior notice to you.
You authorize the Bank to charge your bank account for all periodic service charges, if any, associated with the ACH Direct service as disclosed in the Other Fees and Services section of the Truth-In-Savings Disclosure, as amended from time to time.
By furnishing us with the names, routing numbers and account numbers of your other financial institutions, you authorize the Bank, after the Bank’s authentication and approval of your ACH registration, to follow the instructions that you provide through the ACH Direct service through pcbanker.
YOUR RIGHT TO CANCEL OR CHANGE A DEBIT REQUEST
You have the right to cancel or modify any scheduled Debit Request, subject to the following requirements:
You must modify or cancel a Debit Request by delivering electronic, written or oral notification to the Bank, as follows:
- For pre-authorized recurring debits, you must deliver electronic, written or oral notification to the Bank before 4:00 p.m. Eastern Time at least three (3) business days before the Post Date (that is, the date on which your Debit Request is to be processed and credited to your account at American Bank). (If you elect to provide oral notification to the Bank, you must confirm that oral notice in writing within 14 days of giving the oral notification.)
Examples:
- If your Debit Request is scheduled to be processed on a Thursday, you must deliver your electronic notification modifying or canceling that Debit Request to the Bank before 4:00 p.m. Eastern Time on the prior Monday.
- If your Debit Request is scheduled to be processed on a Monday, you must deliver your electronic notification modifying or canceling that Debit Request to the Bank before 4:00 p.m. Eastern Time on the prior Wednesday.
- For “one-time” debits, you must deliver electronic, written or oral notification to the Bank before 4:00 p.m. Eastern Time at least two (2) business days before the Post Date (that is, two (2) business days before processing of the Debit Request is scheduled to occur). If you wish to provide oral notification to the Bank, you must confirm that oral notice in writing within 14 days of giving the oral notification.
HOW TO CONTACT US
To contact the Bank in any of the circumstances described above, or for any other reason, you may contact us:
- if you are a pcbanker customer, by sending us an online secured message through the Bank’s web site, or
- by telephone at 1-888-366-6622, or
- in writing by U.S. Mail to: American Bank, Attention: Customer Service, 4029 West Tilghman Street, Allentown, PA 18104.
LIABILITY
You agree and acknowledge that each person who opens or is authorized to use an account will have authority to use the ACH Direct service established for and available to such account. Each time you or such persons use the ACH Direct service, you will be required to enter your unique Sign-On ID and Password as required under the pcbanker Agreement. You understand that the Bank has implemented a security procedure for the purpose of verifying the authenticity of the ACH Direct instructions that you transmit to the Bank, and not for the purpose of detecting errors in such instructions. Such security procedure includes (i) a unique file identification number and transmission password, and (ii) encryption. You agree that this procedure constitutes a commercially reasonable method of providing security against unauthorized instructions. You agree to be bound by any instruction issued by you and received and verified by Bank in accordance with such security procedure, and you shall indemnify and hold Bank harmless from and against any loss suffered or liability incurred by, or arising from, the execution of instructions in good faith and in compliance with such security procedure.
If your Password is lost or stolen, or is known by an unauthorized individual, you must notify the Bank immediately. Failure to notify the Bank promptly could result in a loss of funds. You are responsible for maintaining the confidentiality of your unique Sign-On ID and/or Password, and you must promptly report any breach of confidentiality to the Bank. The Bank reserves the right to prevent your access to ACH Direct if we have reason to believe the confidentiality of your unique Sign-On ID and Password have been compromised. All ACH Direct transactions initiated with your Sign-On ID and Password will be considered as having been authorized by you. You are liable for all ACH Direct transactions made or authorized with the use of your Sign-On ID and Password, subject to the limitations set forth in the Bank’s “General Terms and Conditions of Your Deposit Account” Agreement and disclosure statement (“Account Agreement”), as they may be amended from time to time. The terms and conditions of your pcbanker Agreement, Account Agreement and the rules, regulations, schedule, signature card, including any disclosures made pursuant to such agreements, and any subsequent amendments to any of the foregoing, are incorporated in this Agreement by reference. However, if there is any conflict or inconsistency between the terms and conditions stated in the other agreements and those of this Agreement, the terms and conditions of this Agreement shall control to the extent of such conflict or inconsistency.
AMENDMENT
This Agreement may be amended at any time by the Bank. In the event of any such amendments, American Bank will notify you electronically or will forward notification by regular U.S. mail to your mailing address, as it appears on our records, at least 30 days prior to the effective date of the amendment. You will be required to abide by any such amendments in future transactions, and any use of the ACH Direct service after the effective date of such change(s) take effect will constitute your agreement to the changes.
If any provision of this Agreement is found to be invalid or unenforceable under applicable law, such provision shall be ineffective to the extent of such invalidity only, without affecting the remaining provisions of this Agreement.
The Bank may waive any term or provision of this Agreement at any time or from time to time, but any such waiver shall not constitute a waiver of the term or provision in the future.
The Bank may assign the rights and delegate the duties under this Agreement to any entity directly or indirectly affiliated with the Bank now or in the future or to any third parties.
You agree that this Agreement shall be interpreted in accordance with Pennsylvania Law, excluding its choice of law provisions. You further agree that all disputes arising out of or relating to this Agreement or the provision of services by American Bank shall be resolved in a court of competent jurisdiction in the Commonwealth of Pennsylvania, and you hereby consent to the exclusive jurisdiction and venue of such courts.
The Bank reserves the right to deny you the ability to access ACH Direct, to limit your access or transactions or to revoke your access to ACH Direct without advance notice to you. You agree that the Bank has the right to terminate your participation in the ACH Direct service at any time, and for any reason, including, but not limited to, inactivity in or closure of your account with the Bank. The Bank has the right to terminate this Agreement if your eligible account is closed or if your access to online banking services established through the pcbanker service is terminated for any reason. 01.07.09
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