Internet Banking Agreement and Disclosure Statement
Each Client who receives and uses an Internet Banking User ID agrees to the provisions of this Internet Banking Agreement and Disclosure Statement.
- Accounts: Any accounts or credit lines you have or may have at the Bank or at Signature
Securities Group (SSG) which you have designated for access under the Internet Banking
- Agreement: The Internet Banking Agreement and Disclosure Statement.
- Available Balance: With respect to: (i) a Deposit Account the amount made available
for withdrawal under the Bank's Funds Availability Schedule, (ii) a Monogram Money
Market Funds Program Account the value of the money market fund shares in the Account
and (iii) the Monogram Managed Account the Total Availability, which is the combined
balance of the value of any cash deposit that has not yet been used to purchase
money market shares, core money market fund shares, and the amount available under
any margin account.
- Bank, we, us and our: Signature Bank.
- Bill Payment: The payment of a bill or other amount to a payee using Bill Payment
- Bill Payment Date: The date that you select to make a Bill Payment, which date is
at least 5 Business Days before the date the payment needs to be received by the
- Bill Payment Services: The use of a computer, Web Browser, and a Password to pay
a bill or make any other payment to a Payee from your Account which is a checking
- Business Deposit Account: A Deposit Account opened by a Client for a purpose other
than family, personal or household purposes.
- Business Credit Line: A Credit Line established by a Client for a purpose other
than personal, family or household purposes.
- Business Day: Any day other than a Saturday, Sunday or Bank holiday.
- Client: Each person, corporation, limited liability company, partnership, limited
liability partnership, sole proprietorship, unincorporated association, trust, estate
or other entity that has an account with the Bank or SSG.
- Credit Line: Any credit line you have or may have at the Bank that you have designated
as a credit line to be accessed through Internet Banking.
- Deposit Account: A Checking Account, NOW account or time deposit maintained at the
- Internet Banking: The service offered by the Bank to those Bank and SSG customers
who are enrolled in Internet Banking Services.
- Internet Banking Services: The use of a computer, Web Browser, and Password to transfer
funds between Accounts and Credit Lines or to obtain information concerning the
balance and activity of Accounts and Credit Lines.
- Monogram Money Market Funds Program Account ("MMMFP"): The Account that is a special
deposit, or safekeeping, account which you have established at the Bank, which Account
holds shares of those money market mutual funds that are available through the Bank's
Monogram Money Market Funds Program and which Account you have designated for access
under Internet Banking Services.
- Monogram Managed Account ("MMA": A non-FDIC insured investment account held at SSG).
- Password: Personal identification number which has been issued to you to use with
the Internet Banking Service and any change to that Password which you have made.
- Personal Deposit Account: A Deposit Account opened by a Client for a personal, family
or household purpose.
- Personal Credit Line: A Client's Credit Line established for personal, family or
- Signature Securities Group Corporation, Signature Securities Group and SSG: The
Bank's affiliate, a broker-dealer and member of the NASD, that offers non-FDIC insured
nondeposit investments such as securities, mutual funds, unit investment trusts,
annuities and insurance.
- User ID: The number assigned to you by the Bank to be used in conjunction with your
password to access Internet Banking.
- Web Browser: The versions of the commercially available web browsers that have approved
by the Bank for use for Internet Banking.
- You and your: Each Client who requests or uses Internet Banking.
- Types of Available Transfers and Services
With Internet Banking you can:
- Obtain the Available Balance and account activity information of your Accounts and
- Review transaction information for the last six months.
- Transfer funds between your Accounts and Credit Lines.
- Download transaction information to a Personal Financial Manager such as Microsoft™
Money or Quicken™.
- Enroll for the Bill Payment Service to pay bills or make payments from your account
to a business or person within the United States.
By enrolling for the Bill Payment Service, you authorize the Bank and its agents
to follow the payment instructions you have provided using the Account you have
designated for Bill Payment. You will provide the Bank with the names, addresses,
phone numbers and account information of those persons or entities to whom you wish
to make a Bill Payment. When you initiate a Bill Payment, you authorize the Bank
to charge your account and to remit funds to the payee on your behalf electronically,
provided electronic payments are permitted and accepted by the payee. If the payee
does not permit and accept electronic payments, then those funds will be remitted
to the payee through the use of a paper check issued by the Bank or its agent and
payable to the payee.
Bill Payments made before 6:00 p.m. Eastern Time on any Business Day will be debited
from my Account that same Business Day. Bill Payments made after 6:00 p.m. Eastern
Time on a Business Day or on a day which is not a Business Day will be debited from
my Account on the next Business Day.
Payments can be sent to payees by electronic payment, provided the payee permits
and accepts electronic payments or by paper check. If it is determined that the
payment cannot be remitted to the payee as an electronic payment, then the Bank
and its agents will generate a paper check and deposit it into the United States
Mail, first class postage prepaid, addressed to the payee.
While it is anticipated that most Bill Payments will be processed within two (2)
Business Days after your selected Bill Payment Date, it is understood by you that
due to circumstances beyond the control of the Bank and its agents, such as delays
by the payee and the payee's bank or agent in handling and posting Bill Payments,
some Bill Payments may take longer to be posted to your account at the payee. For
this reason, the Bank requires that you select a Bill Payment Date which is at least
five (5) Business Days before the actual due date of the payment(s). You agree that
the Bank will not be responsible for any Bill Payment that is received or posted
by the payee after the payee's grace period or that results in a late charge or
penalty being assessed by the payee. You assume the sole risk of incurring and the
sole responsibility for paying any and all late charges or penalties assessed by
Only payees with United States addresses may be paid using the Bill Payment Service.
We reserve the right to limit the frequency and dollar amount of transactions from
You may use the Bill Payment Service to authorize automatic recurring payments of
recurring bills. These payments must be for the same amount each month and they
will be paid on the same calendar day of each month, or the next Business Day if
the regular payment day falls on a weekend or holiday.
- Your Right To Cancel (Stop Payment) a Bill Payment
You can cancel or stop a single Bill Payment anytime before the
Bill Payment Date for that payment through the use of Internet Banking. If the Bill
Payment is a recurring payment set up on the Bill Payment Service, then you can
cancel that Bill Payment (i) through the use of Internet Banking provided the request
is received before the Bill Payment Date (as described above) of the next recurring
Bill Payment, (ii) by calling Signature Client Services at 1-866-sigline (1-866-744-5463),
or (iii) by writing to: Signature Bank, Online Banking Customer Support, 565 Fifth
Avenue, New York, NY 10017. Phone and written cancellation requests must be received
at least three (3) Business Days prior to the Bill Payment Date. Of your recurring
Bill Payment Phone requests will also require that you to put your request in writing
and get it to us within 14 calendar days after you made the request. Once a recurring
Bill Payment is cancelled, you must reschedule it if you want that Bill Payment
to continue in the future.
- Limitations on Frequency of Transfers and Dollar Amounts
You may use Internet Banking as often as you want. Any Internet
Banking transfer made from the Account or Credit Line must not exceed your Available
Balance in the Account or the available credit of the Credit Line on the day the
transfer is made. If you make Internet Banking transfers from a Deposit Account
that is an Insured Money Market Account or from a Monogram Money Market Funds Program
Account, those transfers are counted as telephone transfers and added to your other
automatic, pre-authorized, check or telephone transfers made from that Account and
limited to six for each Account statement cycle period in accordance with the Account
agreement. If you exceed this limitation, then the Bank may be required to close
your Account and transfer the balance to a checking account.
- Your Password
Internet Banking cannot be used until you receive a User ID and
Password from the Bank. Your Password acts as your signature. You can change your
Password at any time. For your protection, you should memorize your Password and
not keep any notation of your Password on or with your computer. The Password assures
you, or someone to whom you give your Password, can access your Accounts and Credit
Lines through Internet Banking. You agree not to give your User ID or Password to
anyone you do not authorize to use Internet Banking to access your Accounts or Credit
Lines. If you do, you will be responsible for any money transferred from your Accounts
and Credit Lines when such person uses your Password.
You understand and agree that each owner of an Account and each borrower of a Credit
Line is jointly and individually responsible for all Internet Banking transactions
that affects that Account and Credit Line.
YOU AGREE THAT USE OF THE PASSWORD IS AN ACCEPTABLE SECURITY DEVICE AND SHALL BE
DEEMED TO BE COMMERCIALLY REASONABLE IN LIGHT OF YOUR PARTICULAR NEEDS AND CIRCUMSTANCES.
YOU FURTHER ACKNOWLEDGE AND AGREE THAT THE PASSWORD IS A SECURITY DEVICE TO DETECT
AN UNAUTHORIZED INTERNET BANKING OR BILL PAYMENT TRANSACTION, AND NOT A SECURITY
DEVICE TO DETECT AN ERROR IN THE TRANSMISSION OR CONTENT OF AN INTERNET BANKING OR
BILL PAYMENT TRANSACTION.
IF A TRANSACTION TO OR FROM AN ACCOUNT OR CREDIT LINE IS CONSUMMATED BY USING YOUR
PASSWORD, THE TRANSACTION SHALL BE DEEMED TO HAVE BEEN REQUESTED AND AUTHORIZED
You agree to safeguard the confidentiality of your Password and share the password
only with someone whom you are authorizing to access your Accounts and Credit Lines
by using Internet Banking Services. You shall immediately notify the Bank of any
breach of the confidentiality requirement. We may revoke your Password at any time
without prior notice to you to assist us in maintaining the security of any of your
Accounts or Credit Lines. You agree that any action taken by the Bank beyond the
security procedures referred to in this Section in an attempt to detect or prevent
an unauthorized transaction, or an error in the transmission or content of a transaction,
shall not be deemed to be a part of the security procedures regardless of how often
such action may be taken by the Bank.
- Liability for Unauthorized Transfers and Advisability of Prompt Reporting
Tell us AT ONCE if you believe your User ID or your Password has
been lost or stolen. Notifying the Bank by telephone as soon as possible is the
best way of limiting your losses. You could lose all of the funds in your Account
plus the maximum available credit of your Credit Line. If you tell us within two
Business Days, you can lose no more than $50 in your Personal Deposit Account and
your Personal Credit Line if someone used your Password without your permission.
If you do NOT tell us within two Business Days after you learn of the loss or theft
of your Password, and we can prove we could have stopped someone from using your
Password without your permission if you had told us, you could lose as much as $500
for unauthorized transactions involving your Personal Deposit Accounts and Personal
Credit Lines. If the unauthorized transfer involves a Business Deposit Account,
Business Credit Line, Monogram Money Market Funds Program Account or Monogram Managed
Account, then you are responsible for those transactions until you notify the Bank
and the Bank has had a reasonable time to prevent such transactions from occurring
in the future and until the Bank is able to do so you can continue to loss the entire
Available Balance in such Account or the entire Credit Line.
If your Account or Credit Line statement shows transfers that you did not make,
please notify the Bank at once. If you receive a Personal Deposit Account or Personal
Credit Line statement showing an Internet Banking or Bill Payment transaction that
you did not make and 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 kept you from telling us, such as extended travel or hospitalization,
we will extend the time periods. If you receive a Business Deposit Account, Business
Credit Line, Monogram Money Market Funds Program Account or Monogram Managed Account
statement showing transfers that you did not make and notify us, we will attempt
to recover the amount transferred. The sooner you notify us of such unauthorized
the more likely it is that we will be able to recover such amount.
If you believe that someone has made or may make a Internet Banking or Bill Payment
transaction to or from your Account or Credit Lines without your permission, call
1 (866) sigline
Monday through Friday, 8 a.m.-6 p.m. Eastern Time
Internet Banking Support
565 Fifth Avenue
New York, NY 10017
Your Account and Credit Line information is strictly confidential,
and will not be disclosed to anyone without your written permission, except:
- For completing Internet Banking and Bill Payment transactions.
- To confirm the status of your Internet Banking or Bill Payment transaction, Account
and Credit Line for a legitimate third party (such as a credit bureau).
- To comply with a government agency or court order.
- To investigate an error.
- Your Right to Receive Documentation of Transfers
You will continue to receive your regular periodic statement in
the mail for each Account and Credit Line. This statement will reflect all your
transactions, including your Internet Banking and Bill Payment transactions, relating
to that Account or Credit Line.
- Bank's Liability for Failure to Make Signature Banking Online Transactions
If we do not complete an Internet Banking or Bill Payment Transaction
with respect to a Personal Deposit Account or Personal Credit Line on time or in
the correct amount according to this Agreement, we will be liable for your actual
and proven losses or damages caused by such failure but not for any special or consequential
damages, unless required by applicable law. However, there are some exceptions.
We will not be liable for any direct, indirect, incidental, special or consequential
damages if our failure was not intentional and resulted from a bona fide error,
- If you do not have sufficient Available Balance in your Account or available credit
in your Credit Line, to make the transfer.
- If your computer malfunctions.
- If the Web Browser or the processing center of the Bank or its agent that is used
for Internet Banking or Bill Payment is not working properly and you knew or was
advised by the Bank or its agent about this when you made the Internet Banking or
Bill Payment transaction.
- If circumstances beyond our control (such as fire, flood, computer failure or interference
from an outside force) prevent the Internet Banking or Bill Payment transaction
from being properly made or completed.
- If your Password or User ID has been reported lost or stolen or we have reason to
believe that the Internet Banking or Bill Payment transaction is unauthorized.
- If the transaction would violate any applicable provision of any risk control program
or applicable policies, procedures or practices.
- If we have reasonable cause not to honor for our or your protection.
- If your Internet Banking or Bill Payment privileges have been suspended.
- If the funds in your Account are subject to legal process or other encumbrance restricting
- If the Bill Payment Date is not at least five (5) Business Days prior to the due
date of such payment.
- If the payee has a mailing address outside the United States.
- There may be other exceptions stated in the Account and Credit Line agreements between
you and either the Bank or SSG.
If we do not complete a Internet Banking or Bill Payment transaction with respect
to Business Deposit Account, Business Credit Line, Monogram Money Market Program
Account or Monogram Managed Account on time or in the correct amount according to
this Agreement, we will not be liable for any losses or damages in any of the above
instances and in no other instance unless you can show that such failure was due
to our gross negligence and in such event we will be liable only for your actual
and proven losses or damages caused by such failure and not for any indirect, special
or consequential damages, unless required by applicable law.
- In Case of Errors or Questions About Internet Banking or Bill Payment
Transactions If you think your Account or Credit Line statement
sent to you by the Bank or obtained by you with Internet Banking is wrong or if
you need more information about a Internet Banking transfer or Bill Payment listed
on that statement, contact us as soon as possible. You must notify us no later than
60 calendar days after we sent, or you obtained through Internet Banking, the first
statement in which the problem or error appeared.
Call the Signature Line at:
1 (866) sigline
Monday through Friday, 8 a.m.-6 p.m. Eastern Time
You may also write to the Bank at:
Signature Online Banking Customer Support
565 Fifth Avenue
New York, NY 10017
- Tell us your name and the Account or Credit Line number. Describe the error or 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.
- 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.
If your complaint or question involves a Personal Deposit Account or Personal Credit
Line, then we will report back to you within 10 Business Days after we hear from
you and will correct any error promptly. If we require 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 re-credit your Personal Deposit Account or Personal Credit Line
within 10 Business Days for the amount you think is in error, so that you can use
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 do not have to re-credit your Personal Deposit Account or Personal
If we decide that there was no error, we will send you a written explanation within
three Business Days after we finish our investigation. You may ask for copies of
the documents that we used in our investigation.
If your complaint or question involves a Business Deposit Account, a Business Credit
Line, a Monogram Money Market Funds Program Account or a Monogram Managed Account,
then we will tell you the results of our investigation as soon as it is completed.
If your Account or Credit Line is in the joint names of you and one or more other
persons, then each of you will be responsible for Internet Banking and Bill Payment
transactions made by any of you.
- Bank's Limited Liability
Except as otherwise provided with respect to Personal Accounts
and Personal Credit Lines:
- The Bank shall be responsible only for performing the services expressly provided
for in this Agreement, shall be liable only for its gross negligence or willful
misconduct in performing those services, and shall not be liable to any third party
or for any act of omission of yours (including, but not limited to, the amount,
accuracy or timeliness or due authorization) or any third party. In no event shall
the Bank be liable for special, punitive, indirect or consequential damages (including,
but not limited to, such damage from subsequent wrongful dishonor), nor shall any
action or inaction on the part of the Bank constitute a waiver by it of any cause
of action or defense to recovery under any applicable law of mistake or restitution.
The maximum period for which the Bank shall be liable for interest (where the Bank
is liable for such interest) on any amount to be refunded or paid to you is thirty
days and such interest shall be calculated as provided in this Section.
- Without limiting the generality of the foregoing provisions, the Bank shall be excused
from failing to act or delay in acting if such failure or delay is caused by legal
constraint, interruption of transmission or communication facilities, delay in the
U.S. Mail, equipment failure, war, emergency conditions or other circumstances beyond
the Bank's control. In addition, the Bank shall be excused from failing to effect
or delay in effecting a Internet Banking or Bill Payment transaction, if effecting
such transaction would result in the Bank's having exceeded any limitation upon
its intra-day net funds position established pursuant to present or future Federal
Reserve guidelines or in the Bank's otherwise violating any provision of any present
or future risk control program of the Federal Reserve or any rule or regulation
of any other U.S. governmental regulatory authority.
- Subject to the foregoing limitations, the Bank's liability for loss of interest
(where the Bank is liable for such interest) shall be calculated by using a rate
equal to the average Federal Funds rate at the Federal Reserve Bank of New York
for the period involved. At the Bank's option, payment of such interest may be made
by crediting an Account or Line of Credit.
You agree to indemnify and hold the Bank and SSG harmless from and against any loss,
claims, actions, damages, liability and expenses (including, but not limited to,
attorney's fees) resulting from or arising out of any claim of any person or entity
that the Bank or SSG is responsible for, as a result of or in connection with, any
of your acts or omissions.
- Other Rules
Internet Banking and Bill Payment transactions will also be subject
to the Bank's and SSG's Account agreements and the Bank's Credit Line agreement.
The Bank may change this Agreement at any time by electronically
sending to you an e-mail notice, mailing to you a notice or posting a notice of
such change in the Bank's Financial Center where you maintain your Account. However,
if the change involves a Deposit Account or Credit Line and results in (i) increased
or new fees or charges, (ii) increased liability for you, (iii) fewer types of available
Internet Banking or Bill Payment Services, or (iv) stricter limitations on the frequency
or dollar amounts of transfers, then at least 21 days before the effective date
of the change the Bank will either electronically send to you an e-mail notice to
your or mail to you a written notice of such change.
The Bank may cancel your right to use Signature Banking Online
without prior notice if there has been no Internet Banking and Bill Payment activity
for a period of two consecutive months or for any other reason. The Bank may also
cancel all or part of the Internet Banking Services or Bill Payment Services.
The Bank shall not be deemed to have lost any of its rights because
they have not been exercised.
- Invalidity of any Provision
If any provision stated in this Agreement or in any applicable
Account or Credit Line or agreement is held to be unenforceable, the remaining provisions
shall remain in effect.
- Applicable Law
This Agreement shall be governed by the laws of New York State
and by applicable federal law.
- Signature Banking Online Fees and Charges
Online Banking: FREE
Bill Payment Service: FREE
Online Banking: FREE
Bill Payment Service: FREE for the first 20 transactions; $0.50 for each transaction
The Bank and SSG also have minimum balance requirements and other charges that apply
to the Accounts and Credit Lines whether or not they are used for Internet Banking
or Bill Payment.