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Berkshire Bank Personal and Small Business Online Banking Disclosure

Introduction
Berkshire Bank (“the bank”) is pleased to offer its customer (“you”) the convenience of 24-hour banking through Berkshire Bank Personal and Small Business Online Banking. When you log in to Berkshire Bank Personal and Small Business Online Banking, you acknowledge that you have received and understand the terms of this Agreement and agree to be bound by these terms. Please read this agreement and disclosure statement carefully because it tells you about your rights and responsibilities for EFT transactions processed using Berkshire Bank Personal and Small Business Online Banking. You should keep this agreement and disclosure statement for future reference.

These agreements may be amended from time to time and notice of such change will be provided to you by us as may be required by applicable law.

Electronic Disclosures
You consent to receive all disclosures relating to your account electronically either by e-mail or by notification that disclosures are available on Berkshire Bank’s website. Agreeing to accept disclosures electronically means that once the Bank presents them to you, and if necessary, you click to accept them, they will apply to you and your accounts.

You have the right to withdraw consent to have disclosures provided electronically. If you choose to discontinue receiving disclosures electronically or you wish to receive a paper copy, you may do so by sending an e-mail from Berkshire Bank’s website or by calling 1-800-773-5601. There are no fees for obtaining paper copies of our disclosures.

Equipment Requirements
To receive disclosures electronically you must have Adobe Reader Version 8.0 or higher.

Security
We are committed to protecting your personal and financial information. Our Electronic Banking system utilizes Secure Sockets Layer (SSL) technology to support the secure transmission of personal and account information over the internet. SSL technology encodes information that is sent over the internet between your computer and Berkshire Bank. The use of SSL technology and 128 bit encryption help ensure that your personal information remains confidential. In addition to SSL technology, we have implemented the following security procedures:

  • The service will automatically log off if prolonged periods of inactivity occurs
  • Your account will be locked after three consecutive invalid password attempts
  • Account alerts and Service alerts to notify you of activity on your account
  • If you log in from an unregistered computer, you will be prompted with out of band authentication using SMS messaging or a telephone call to an existing telephone number already on record with Berkshire Bank.
  • Out of Band Authentication - for external transfers you will be required to enter a one-time passcode that will be delivered to you via phone call or text to the phone number we have on file.
  • Your user ID and password are maintained in encrypted data tables

The use of SSL requires that you access our Electronic Banking system with an SSL-compatible browser. A listing of SSL capable web browsers is below:

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Passwords: Your online account information is available to you with the use of a user ID and a password (log on credentials) of your choice. You can safeguard your account information by protecting your credentials. Keep your credentials confidential and do not provide them to anyone else. If you give your log on credentials to anyone, you may be responsible for any loss that stems from that disclosure. You may change your log on credentials at any time. We recommend you change your credentials at least once every 90 days. Your credentials should not be an easily guessed word or names. They must contain a combination of letters and numbers and are case sensitive. We recommend using a combination of upper and lower case letters interspersed with numbers.

Virus Protection: You agree that we are not responsible for any electronic virus that you may encounter using Berkshire Bank Personal and Small Business Online Banking. We encourage you to routinely scan your computer and media using any reliable virus protection product to detect and remove any viruses found. Undetected or unrepaired, a virus may corrupt and destroy your programs, files and even your hardware.

Customer Service Information

For questions concerning your account or service, contact:

BERKSHIRE BANK
ATTN: CALL CENTER

P.O. Box 1308
Pittsfield, MA 01202-1308

E-mail: websupport@berkshirebank.com
Business Hours: Monday through Friday 8:00AM - 5:00 PM
Saturday 8:30AM-1:00PM
Excluding Federal Holidays
Phone: 1-800-773-5601

ELECTRONIC FUND TRANSFER DISCLOSURE STATEMENT
The purpose of this disclosure is to inform you of your rights under the Electronic Fund Transfer Act. The Electronic Fund Transfers we are capable of handling are indicated below. Additional services may be provided in the future as they are developed. Please read this Disclosure Statement carefully and keep it for future reference.

PERMISSIBLE ACTIVITIES FOR BANK ACCOUNTS
You may perform the following activities with Berkshire Bank Personal and Small Business Online Banking:

Account Inquiry: You may get Account information (such as balances) and view up to 3 months of transactions for your eligible accounts.

Review statements: You may view statement activity for your eligible accounts.

Review Cleared checks: You may view and print both the front and back of available digital images of checks that have been paid on your Deposit Accounts.

Self-Initiated Services: You may initiate services such as stop payments or statement or check copies through Berkshire Bank Personal and Small Business Online Banking.

Funds Transfer: You may transfer funds between your eligible deposit accounts at Berkshire Bank.

External Funds Transfer: You may transfer to or from checking and savings accounts you own at other financial institutions in accordance with our External Funds Transfer Agreement.

Loan Payments: You may make payments to your eligible loan accounts

Bill Payments: You may make payments or pay various third parties from your Payment Account(s). You must have a Checking account to use the Bill Payment Service. Your ability to make certain payments or pay certain third parties may be prohibited as described in this Agreement.

LIMITATIONS ON FREQUENCY OF TRANSFERS
Transfers from a money market or statement savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle. No more than three of those transfers may be by check, draft, or similar order to third parties.

BUSINESS DAY
Our business day includes every Monday through Friday, excluding Federal holidays. If you make a deposit before 6:00 P.M. on a day which we are open, excluding Saturdays, using our Internet banking product or our telephone banking service, we will consider that day to be the day of your deposit. However, if you make a deposit after 6:00 P.M. or on a day we are not open, excluding Saturdays, we will consider that the deposit was made on the next business day we are open.

ERRORS AND QUESTIONS
In case of errors or questions about your electronic transactions, you should, as soon as possible, notify us via one of the following:

Telephone us at (800) 773-5601 during our customer service hours of Monday-Friday 8:00am to 5:00pm, Saturday 8:30am to 1:00pm.

Contact us by using the applications e-messaging feature; and/or,

Write us at:

BERKSHIRE BANK
ATTN: Electronic Banking

P.O. BOX 1308
PITTSFIELD, MA 01202-1308

E-mail:
websupport@berkshirebank.com

Business Hours: Monday through Friday 8:00AM - 5:00 PM
Saturday 8:30AM-1:00PM
Excluding Federal Holidays

Phone: 1-800-773-5601

If you think your statement is wrong or you need more information about a transaction listed on the statement, we must hear from you no later than sixty (60) days after you received the FIRST statement on which the problem or error appeared.

Information you should provide in writing:

  1. Tell us your name and account number;
  2. Describe the error or the transaction in question, and explain as clearly as possible why you believe it is an error or why you need more information; and,
  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.

Consumer Accounts Only - We will determine whether an error occurred within 10 business days 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 to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days 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.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

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

YOUR LIABILITY FOR UNAUTHORIZED TRANSFERS for Consumer Accounts
If you tell us within two (2) business days after you discover your password or other means to access your account has been lost or stolen, your liability is no more than $50.00 should someone access your account without your permission. If you do not tell us within two (2) business days after you learn of such loss or theft, and we can prove that we could have prevented the unauthorized use of your password or other means to access your account if you had told us, you could be liable for as much as $500.00. If your monthly financial institution statement contains transfers that you did not authorize, you must tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may lose any amount transferred without your authorization after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason (such as a long trip or a hospital stay) prevented you from telling us, we may extend the period.

STOP 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. Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may require you to present your request in writing within fourteen (14) days after your call.

There is a fee of $30.00 effective May 1, 2011 for each stop payment order you give. The fee will be assessed against your Payment Account.

Liability for failure to stop payment of preauthorized transfer: If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses and damages.

ADDITIONAL INFORMATION REQUIRED BY MASSACHUSETTS LAW

(1) Any documentation provided to you which indicates that an electronic fund transfer was made to another person shall be admissible as evidence of the transfer and shall constitute prima-facie proof that the transfer was made.

(2) The initiation by you of certain electronic fund transfers from your account will, except as otherwise provided in the agreement, effectively eliminate your ability to stop payment of the transfer.

Unless otherwise provided in this agreement, you (the consumer) may not stop payment of electronic fund transfers, therefore you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment.

Notice of varying amounts
If these regular payments may vary in amount, [we] [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.)

DOCUMENTATION
You will get a periodic statement from us for checking, money market and statement savings accounts.

FINANCIAL INSTITUTION LIABILITY
We will use our best efforts to make all your payments properly. However, the Service shall incur no liability and any Service Guarantee shall be void if the Service is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances:

  1. If, through no fault of the Service, your Payment Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft account;
  2. The payment processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction;
  3. If you have an overdraft line and the transfer would go over the credit limit;
  4. If the funds are subject to legal process or other encumbrance restricting such transfer;
  5. You have not provided the Service with the correct Payment Account information, or the correct name, address, phone number, or account information for the Payee; and/or,
  6. Circumstances beyond control of the Service (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances.

Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a Payee which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Payment Account, and for directing to the proper Payee any previously misdirected transactions, and, if applicable, for any late payment related charges.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES
It is our general policy to treat your account information as confidential. However, we will disclose information to third parties about your account or the transactions you make ONLY in the following situations:

  1. Where it is necessary for completing transactions;
  2. Where it is necessary for activating additional services;
  3. In order to verify the existence and condition of your account to a third party, such as a credit bureau or Payee;
  4. To a consumer reporting agency for research purposes only;
  5. In order to comply with a governmental agency or court orders; or,
  6. If you give us your written permission.

TERMS AND CONDITIONS OF BILL PAYMENT SERVICES

Definitions

"Service" means the Bill Payment Service offered by Berkshire Bank Personal and Small Business Online Banking, through FIS Global.

"Agreement" means these Terms and Conditions of the bill payment service. "Payee" is the person or entity to which you wish a bill payment to be directed or is the person or entity from which you receive electronic bills, as the case may be.

"Payment Instruction" is the information provided by you to the Service for a bill payment to be made to the Payee (such as, but not limited to, Payee name, Payee account number, and Scheduled Payment Date).

"Payment Account" is the checking account from which bill payments will be debited.

"Business Day" is every Monday through Friday, excluding Federal holidays.

"Scheduled Payment Date" is the day you want your Payee to receive your bill payment and may also be the day your Payment Account will be debited, unless the Scheduled Payment Date falls on a non-Business Day in which case it will be considered to be the previous Business Day.

"Due Date" is the date reflected on your Payee statement for which the payment is due. It is not the late date or grace period.

"Scheduled Payment" is a payment that has been scheduled through the Service but has not begun processing.

PAYMENT SCHEDULING
Transactions begin processing four (4) Business Days prior to your Scheduled Payment Date. Therefore, dependent upon the payment transaction type, the application will select an earliest Scheduled Payment Date up to four (4) Business Days from the current date. When scheduling payments you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your Payee statement unless the Due Date falls on a non-Business Day. If the actual Due Date falls on a non-Business Day, you must select a Scheduled Payment Date that is at least one (1) Business Day before the actual Due Date. Scheduled Payment Dates should be prior to any late date or grace period.

THE SERVICE GUARANTEE
Due to circumstances beyond the control of the Service, particularly delays in handling and posting payments by Payees or financial institutions, some transactions may take longer to be credited to your account. The Service will bear responsibility for any late payment related charges up to $50.00 should a payment post after its Due Date as long as the payment was scheduled in accordance with the guidelines described under "Payment Scheduling" in this Agreement.

PAYMENT AUTHORIZATION AND PAYMENT REMITTANCE
By providing the Service with names and account information of Payees to whom you wish to direct payments, you authorize the Service to follow the Payment Instructions that it receives through the payment system. In order to process payments more efficiently and effectively, the Service may edit or alter payment data or data formats in accordance with Payee directives.

When the Service receives a Payment Instruction, you authorize the Service to debit your Payment Account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment Date designated by you. You also authorize the Service to credit your Payment Account for payments returned to the Service by the United States Postal Service or Payee, or payments remitted to you on behalf of another authorized user of the Service.

PAYMENT METHODS
The Service reserves the right to select the method in which to remit funds on your behalf to your Payee. These payment methods may include, but may not be limited to, an electronic payment, an electronic to check payment, or a laser draft payment.

PAYMENT CANCELLATION REQUESTS
You may cancel or edit any Scheduled Payment (including recurring payments) by following the directions within the application. There is no charge for canceling or editing a Scheduled Payment. Once the Service has begun processing a payment it cannot be cancelled or edited, therefore a stop payment request must be submitted.

STOP PAYMENT REQUESTS
The Service’s ability to process a stop payment request will depend on the payment method and whether or not a check has cleared. The Service may also not have a reasonable opportunity to act on any stop payment request after a payment has been processed. If you desire to stop any payment that has already been processed, you must contact Customer Service. Although the Service will make every effort to accommodate your request, the Service will have no liability for failing to do so.

PROHIBITED PAYMENTS
Payments to Payees outside of the United States or its territories are prohibited through the Service.

EXCEPTION PAYMENTS
Tax payments and Court ordered payments may be scheduled through the Service, however such payments are discouraged and must be scheduled at your own risk. In no event shall the Service be liable for any claims or damages resulting from your scheduling of these types of payments. The Service Guarantee as it applies to any late payment related changes is void when these types of payments are scheduled and/or processed by the Service. The Service has no obligation to research or resolve any claim resulting from an exception payment. All research and resolution for any misapplied, mis-posted or misdirected payments will be the sole responsibility of you and not of the Service.

BILL DELIVERY AND PRESENTMENT
This feature is for the presentment of electronic bills only and it is your sole responsibility to contact your Payees directly if you do not receive your statements. In addition, if you elect to activate one of the Service's electronic bill options, you also agree to the following:

Information provided to the Payee - The Service is unable to update or change your personal information such as, but not limited to, name, address, phone numbers and e-mail addresses, with the electronic Payee. Any changes will need to be made by contacting the Payee directly. Additionally it is your responsibility to maintain all usernames and passwords for all electronic Payee sites. You also agree not to use someone else's information to gain unauthorized access to another person's bill.

Activation - Upon activation of the electronic bill feature the Service may notify the Payee of your request to receive electronic billing information. The presentment of your first electronic bill may vary from Payee to Payee and may take up to sixty (60) days, depending on the billing cycle of each Payee. Additionally, the ability to receive a paper copy of your statement(s) is at the sole discretion of the Payee. While your electronic bill feature is being activated it is your responsibility to keep your accounts current. Each electronic Payee reserves the right to accept or deny your request to receive electronic bills.

Notification - The Service will use its best efforts to present all of your electronic bills promptly. In addition to notification within the Service, the Service may send an e-mail notification to the e-mail address listed for your account. It is your sole responsibility to ensure that this information is accurate. In the event you do not receive notification, it is your responsibility to periodically logon to the Service and check on the delivery of new electronic bills. The time for notification may vary from Payee to Payee. You are responsible for ensuring timely payment of all bills.

Cancellation of electronic bill notification - The electronic Payee reserves the right to cancel the presentment of electronic bills at any time. You may cancel electronic bill presentment at any time. The timeframe for cancellation of your electronic bill presentment may vary from Payee to Payee. It may take up to sixty (60) days, depending on the billing cycle of each Payee. The Service will notify your electronic Payee(s) as to the change in status of your account and it is your sole responsibility to make arrangements for an alternative form of bill delivery. The Service will not be responsible for presenting any electronic bills that are already in process at the time of cancellation.

Non-Delivery of electronic bill(s) - You agree to hold the Service harmless should the Payee fail to deliver your statement(s). You are responsible for ensuring timely payment of all bills. Copies of previously delivered bills must be requested from the Payee directly.

Accuracy and dispute of electronic bill - The Service is not responsible for the accuracy of your electronic bill(s). The Service is only responsible for presenting the information we receive from the Payee. Any discrepancies or disputes regarding the accuracy of your electronic bill summary or detail must be addressed with the Payee directly.

This Agreement does not alter your liability or obligations that currently exist between you and your Payees.

Bill Payment Limits:

Daily limit: $20,000.00

Transaction limit: $9,999.99

Bill Payment Fees: Expedited Bill Payments $4.95

Overnight Check $24.95

We reserve the right to charge additional fees at a later time and will notify you if we do so as required by law.

EXCLUSIONS OF WARRANTIES THE SERVICE AND RELATED DOCUMENTATION ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

PASSWORD AND SECURITY
You agree not to give or make available your password or other means to access your account to any unauthorized individuals. You are responsible for all payments you authorize using the Service. If you permit other persons to use the Service or your password or other means to access your account, you are responsible for any transactions they authorize. If you believe that your password or other means to access your account has been lost or stolen or that someone may attempt to use the Service without your consent or has transferred money without your permission, you must notify the Service at once by calling (800) 220-6956 during customer service hours.

FAILED OR RETURNED TRANSACTIONS
In using the Service, you are requesting the Service to make payments for you from your Payment Account. If we are unable to complete the transaction for any reason associated with your Payment Account (for example, there are insufficient funds in your Payment Account to cover the transaction), the transaction will not be completed. In some instances, you will receive a return notice from the Service. In such case, you agree that:

  1. You will reimburse the Service immediately upon demand the transaction amount that has been returned to the Service;
  2. For any amount not reimbursed to the Service within fifteen (15) days of the initial notification, a late charge equal to 1.5% monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed;
  3. You will reimburse the Service for any fees imposed by your financial institution as a result of the return;
  4. You will reimburse the Service for any fees it incurs in attempting to collect the amount of the return from you; and,
  5. The Service is authorized to report the facts concerning the return to any credit reporting agency.

ALTERATIONS AND AMENDMENTS
This Agreement, applicable fees and service charges may be altered or amended by the Service from time to time. In such event, the Service shall provide notice to you. Any use of the Service after the Service provides you a notice of change will constitute your agreement to such change(s). Further, the Service may, from time to time, revise or update the applications, services, and/or related material, which may render all such prior versions obsolete. Consequently, the Service reserves the right to terminate this Agreement as to all such prior versions of the applications, services, and/or related material and limit access to only the Service's more recent revisions and updates.

ADDRESS OR BANKING CHANGES
It is your sole responsibility to ensure that the contact information in your user profile is current and accurate. This includes, but is not limited to, name, address, phone numbers and email addresses. Changes can be made either within the application or by contacting Customer Service. Any changes in your Payment Account should also be made in accordance with the procedures outlined within the application's Help files. All changes made are effective immediately for scheduled and future payments paid from the updated Payment Account information. The Service is not responsible for any payment processing errors or fees incurred if you do not provide accurate Payment Account or contact information.

SERVICE TERMINATION, CANCELLATION, OR SUSPENSION
In the event you wish to cancel the Service, you may have the ability to do so through the product, or you may contact customer service via one of the following:

Telephone us at (800) 773-5601 during our customer service hours of Monday-Friday 8:00am to 5:00pm, Saturday 8:30am to 1:00pm.

Contact us by using the applications e-messaging feature; and/or,

Write us at:

BERKSHIRE BANK
ATTN: Call Center

P.O. BOX 1308
PITTSFIELD, MA 01202-1308

E-mail:
websupport@berkshirebank.com

Business Hours: Monday through Friday 8:00AM - 5:00 PM
Saturday 8:30AM-1:00PM
Excluding Federal Holidays

Phone: 1-800-773-5601

Any payment(s) the Service has already processed before the requested cancellation date will be completed by the Service. All Scheduled Payments including recurring payments will not be processed once the Service is cancelled. The Service may terminate or suspend Service to you at any time. Neither termination nor suspension shall affect your liability or obligations under this Agreement.

PAYEE LIMITATION
The Service reserves the right to refuse to pay any Payee to whom you may direct a payment. The Service will notify you promptly if it decides to refuse to pay a Payee designated by you. This notification is not required if you attempt to make a prohibited payment or an exception payment under this Agreement.

RETURNED PAYMENTS
In using the Service, you understand that Payees and/or the United States Postal Service may return payments to the Service for various reasons such as, but not limited to, Payee's forwarding address expired; Payee account number is not valid; Payee is unable to locate account; or Payee account is paid in full. The Service will use its best efforts to research and correct the returned payment and return it to your Payee, or void the payment and credit your Payment Account. You may receive notification from the Service.

INFORMATION AUTHORIZATION
Your enrollment in the Service may not be fulfilled if the Service cannot verify your identity or other necessary information. If your account was added online, the Service may issue offsetting debits and credits to the Payment Account(s) and/or Billing Account, and require confirmation of such from you in order to verify ownership of the Payment Account(s) and/or Billing Account. Through your enrollment in the Service, you agree that the Service reserves the right to request a review of your credit rating at its own expense through an authorized bureau. In addition, you agree that the Service reserves the right to obtain financial information regarding your account from a Payee or your financial institution (for example, to resolve payment posting problems or for verification).

DISPUTES
In the event of a dispute regarding the Service, you and the Service agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Service which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Service relating to the subject matter of this Agreement. If there is a conflict between what an employee of the Service or Customer Service Department says and the terms of this Agreement, the terms of this Agreement will prevail.

ASSIGNMENT
You may not assign this Agreement to any other party. The Service may assign this Agreement to any future, directly or indirectly, affiliated company. The Service may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

NO WAIVER
The Service shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the Service. No delay or omission on the part of the Service in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

CAPTIONS
The captions of sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement.

GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to its conflicts of laws provisions.

THE FOREGOING SHALL CONSTITUTE THE SERVICE'S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL THE SERVICE BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF) ARISING IN ANY WAY OUT OF THE INSTALLATION, USE, OR MAINTENANCE OF THE EQUIPMENT, SOFTWARE, AND/OR THE SERVICE.

PROTECTED CONSUMER USE
Chapter 167B of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize this system.

(1) Prohibition of compulsory use. No person may:

  • Require you to use a preauthorized electronic fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or
  • Require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of government benefit, or
  • Require you to pay electronically for the purchase of goods or services.

If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.

(2) Waiver or rights. No writing or agreement signed by you can waive the rights conferred to you by Chapter 167B of the Massachusetts General Laws unless you decide to waive these rights in settlement of a dispute or action.

(3) Refunds. It is the policy of a store or retail business to give cash refunds in return for an item purchased by cash, then this policy must also cover refunds for items purchased by electronic fund transfer unless it is clearly disclosed at the time the transaction is consummated that no cash or credit refunds are given for payments made by electronic fund transfers.

(4) Suspension of obligations. If a person agrees to accept payment by means of an electronic fund transfer and the system malfunctions preventing such a transfer, then the consumer's obligation is suspended until the transfer can be completed, unless that person, in writing, demands payment by other means.

(5) Prohibited means of identification. Your Social Security number cannot be used as the primary identification number although it can be used as secondary aid to identify you.

(6) Criminal liability. Procuring or using a card, code or other means of electronic access to an account with the intent to defraud is a basis for criminal liability.

EXTERNAL FUNDS TRANSFER AGREEMENT
Transfers Outside the Bank to/from Accounts You Own
Within Online Banking you may sign up for the option of transferring funds between your linked deposit accounts with the bank and certain deposit accounts at other financial institutions (International Transfers are not supported). You will need to set up and verify each of your non-Berkshire Bank accounts that you wish to use for these transfers. You agree that you will only attempt to set up and verify accounts for which you have the authority to transfer funds.

External transfers are processed after 7:00PM EST on the date they are scheduled. Sufficient funds need to be available at that time. If you transfer funds into the account you have with us, the funds are credited to your account on the next business day but may not be available for use until we receive the funds from the other financial organization. This may take up to two business days, five business days for accounts less than 30 days old.

  • Transfers outside the Bank can be initiated on either a 1-time or a recurring basis. The recurring transfer feature may be used when a set amount is transferred at regular intervals. For example, a $100 transfer from an account you own at another financial institution to your Berkshire Bank checking account that occurs every 2 weeks. All scheduled transfers will occur with Standard delivery.
  • One-time future-dated or recurring transfers scheduled for a weekend or a non-business day will be processed on the next business day.
  • Future-dated and recurring transfers can be canceled prior to 7:00pm ET on the business day prior to the date the transfer is scheduled to be made. However, if the transfer's status is In Process or Processed, you can no longer cancel it.
  • Transfer Outside the Bank to accounts you own are subject to the following fees:
    Incoming Transfers – no fee
    Outgoing Transfers - $3.00

We reserve the right to charge additional fees at a later time and will notify you if we do so as required by law.

  • Transfer Outside the Bank are subject to the following limits:
    Incoming/Outgoing transfers per business day - $2,000.00
    Incoming/Outgoing transfers per Month - $5,000.00
  • Limits to Number of Transfers:
    Incoming/Outgoing Transfers per Day – 2
    Incoming/Outgoing Transfers per Month - 5

The above limits apply to the total of all Transfers Outside the Bank for all accounts. Any transfer initiated on a day that is not a business day counts toward the applicable limit for the next business day. Transfers Outside the Bank are available to all customers, but you agree we may cancel, without prior notice, upon the occurrence of a "Disqualifying Event," as defined below.

We may change your dollar limits at any time. Any decrease will be subject to notice, as required by law, but you agree that we may reduce your limits stated above without prior notice upon occurrence of a Disqualifying Event.

Each of the following is a "Disqualifying Event":

You have had an overdraft, an over-limit item, or an item returned for insufficient funds with respect to any Berkshire Bank account during the current or 3 prior calendar months.

Any of your accounts with Berkshire Bank are not current or are not in good standing.

You shall be solely responsible for the accuracy and completeness of Transfer Instructions transmitted to Berkshire Bank. Berkshire Bank shall not be responsible for any errors in the Instructions or requests for cancellation or amendment of Instructions transmitted to Berkshire Bank by you, and your sole recourse for erroneous or unauthorized Entries or Instructions received by Berkshire Bank from a third-party processor acting on behalf of you is against such third-party processor and not against Berkshire Bank.

Settlement for Entries will occur as provided in the Rules, except that Berkshire Bank may, upon notice, require Settlement prior to processing. Payment of a Credit Entry by the Receiving Depository Financial Institution to the Receiver shall be provisional until receipt by the Receiving Depository Financial Institution of final Settlement for such Entry. You acknowledge that, if such final Settlement is not received, the Receiving Depository Financial Institution shall be entitled to a refund from the Receiver of the amount credited and you shall not be deemed to have paid the Receiver the amount of the Entry.

If an Entry describes the Receiver inconsistently by name and account number, payment may be made on the basis of the account number even if it identifies a person different from the named Receiver. In addition, if an Entry describes the Receiving Depository Financial Institution inconsistently by name and identification number or routing number, payment may be made on the basis of the identification number or routing number even if it identifies a financial institution other than the named Receiving Depository Financial Institution.

If you transmit an Entry that instructs Berkshire Bank to debit or credit an account at a financial institution that does not participate in an ACH association, Berkshire Bank may reject such Entry and use reasonable efforts to notify you of such rejection.

You agree to maintain sufficient collected balances in your Account to cover your transfer obligations for all Entries transmitted to Berkshire Bank. You authorize Berkshire Bank to obtain payment of any amount due Berkshire Bank with respect to any of the Entries by debiting, without prior notice or demand, the Account or any other account maintained by you at Berkshire Bank or, to the extent permitted by applicable law, any of its affiliate banks. Entries requiring payments in excess of the collected balances available in the Account may be returned unprocessed by Berkshire Bank, provided that Berkshire Bank may, in its discretion, debit other accounts maintained by you at Berkshire Bank in order to complete the Entry. You shall fund the Account with collected funds on or prior to any applicable Settlement Date, or, if so notified by Berkshire Bank, on or prior to the date any Entries are to be processed. In the event that there are not sufficient collected funds in the Account to cover all Entries transmitted to Berkshire Bank by you, such Entries will be completed in the order determined by Berkshire Bank. If you fail to fund the Account as required, then Berkshire Bank may refuse to provide Transfers Outside the Bank Services to you.

11. ADDITIONAL INFORMATION
Any documentation provided to you which indicates that an electronic fund transfer was made will be admissible as evidence of the transfer and will constitute prima facie proof that the transfer was made. The initiation by you of certain electronic fund transfers from your Account will effectively eliminate your ability to stop payment of the transfer. UNLESS OTHERWISE PROVIDED IN THIS AGREEMENT, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUND TRANSFERS; THEREFORE, YOU SHOULD NOT EMPLOY ELECTRONIC ACCESS FOR PURCHASES OR SERVICES UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO STOP PAYMENT

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