Payveris Agreement And Disclosure

These terms and conditions (the "Agreement") constitute a contract between you, the depositor (hereafter "You") and Florence Bank ( the “Bank”) or its designated third party processor or service provider ("We", "Us"), in connection with PayItNow™ Payment Service, (the "Service") offered through the Bank’s online and mobile banking web site ( "Online Banking"). This Agreement applies to your use of the Service and any portion of Online Banking through which the Service is offered. The Service enables you to initiate a PayItNow™payment from one of your Eligible Transaction Accounts at the Bank, to a Recipient's account at any U.S. financial institution. Although the ACH Network is often used to execute PayItNow™payments for the Service, other Payment Networks may be used to facilitate the execution and transmission of Payment Instructions. (PayItNow™ payments executed through the ACH network shall be evidenced by a request initiated electronically as described herein, and will be initiated on your behalf pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association and the New England ACH Association [the "Rules"]).

1. Eligibility. The Service is offered only to individual residents of the United States who can form legally binding contracts under applicable law. Without limiting the foregoing, the Service is not offered to minors unless the minor is using an Eligible Transaction Account in the name of the minor with a parent or guardian as a co-signor or guarantor. By using the Service, you represent that you meet these requirements and that you agree to be bound by this Agreement.
2. Initiating PayItNow™ Payment Instructions. All PayItNow™Payment Instructions must be initiated through Online Banking and are subject to the terms of this Agreement and applicable laws and regulations, in each case as in effect from time to time. Before You will be permitted to initiate a PayItNow™payment, You will be required to agree to this Agreement, and follow the procedures set forth in Online Banking.
3. Security Procedure.

a)You shall comply with the security requirements with respect to PayItNow™payments initiated by You, as well as those required in connection with Online Banking generally. You agree to take full and final responsibility for any and all errors relating to or concerning PayItNow™payments.

b) You are strictly responsible to establish and maintain the procedures to safeguard against unauthorized access to your account and transmission of PayItNow™payments. You warrant that no individual will be allowed to initiate PayItNow™payments on Your behalf, in the absence of proper supervision and safeguards, and agree to take all reasonable steps to maintain the confidentiality of the security procedures and all passwords, codes, security devices, and related instructions relating to your account, Online Banking Services, or otherwise provided by Us. If You believe or suspect that any such information or instructions have been known or accessed by unauthorized persons, You agree to notify the Bank immediately. The occurrence of unauthorized access will not affect any PayItNow™payments made in good faith by the Bank prior to receipt of such notification plus a reasonable time period thereafter for the Bank to act on such notice.

4. Payment Authorization and Remittance.

a) It is the responsibility of the Sender and the Recipient to ensure the accuracy of any information that they enter into the Service (including, but not limited, to the PayItNow™Payment Instructions and name, mobile phone number and/or email address for the Receiver to whom you are attempting to send the PayItNow™payment), and for informing us as soon as possible if they become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a payment made to the wrong person or entity once informed, but we do not guarantee such stoppage or recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by the Sender or Recipient.

b) By providing us with names and mobile phone numbers and/or email addresses of the Recipients to whom you wish to direct payments, you authorize us to follow the PayItNow™Payment Instructions that we receive through this Service.

c) When we receive a PayItNow™Payment Instruction from you, you authorize us to debit your Eligible Transaction Account and remit funds on your behalf. You also authorize us to credit your Eligible Transaction Account for the receipt of payments returned to us because the processing of your PayItNow™payment could not be completed.

d) PayItNow™payments enable you to initiate a PayItNow™payment from one of your Eligible Transaction Accounts at Florence Bank, to another Recipient's account at any U.S. financial institution, up to $2,500 per transaction.

e) The recipient must accept the transaction within 10 calendar days. Failure to accept the transaction within the 10 calendar day window will result in an unsuccessful transaction attempt, and another PayItNow™payment will need to be initiated. 

f) The recipient has three attempts to accurately answer the security question that they need to answer to receive the funds. Once they have reached the maximum number of attempts, the transaction status will be updated as failed, and another PayItNow™payment will need to be initiated.

g) We will use reasonable efforts to complete all your PayItNow™Payment Instructions properly. However, we shall incur no liability if we are unable to complete any transaction because of the existence of any one or more of the following circumstances:

• If through no fault of ours, the Eligible Transaction Account does not contain sufficient funds to complete the PayItNow™payment or the PayItNow™payment would exceed the credit limit of your overdraft account;
  
• The service is not working properly and you know or have been advised by us about the malfunction before you execute the PayItNow™Payment Instruction;
  
• The payment is refused or returned by the Recipient or the Recipient’s Financial Institution; 
  
• You have not provided us with the correct information, including but not limited to the correct PayItNow™Payment Instructions or Eligible Transaction Account information, or the correct name, mobile phone number or email address of the Recipient to whom you are initiating a PayItNow™payment; and/or
  
• Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution or interference from an outside force) which prevent the proper execution of the PayItNow™payment.
  
  h) You agree that your authorization provided in Online Banking is conclusive evidence that with regard to each PayItNow™payment, You authorize and are empowered to authorize Us to submit the PayItNow™payments on your behalf. 
  
  5. Prohibited Payments. The following types of payments are prohibited through the Service, and we have the right, but not the obligation to, monitor for, block, cancel and/or reverse such payments. 
  
  a) Payments to persons located in prohibited territories (including any territory outside of the United States);
  
  b) Payments that violate any law, statute, ordinance or regulation;
  
  c) Payments that violate the terms and conditions of this agreement
  
  d) Payments related to gambling, gaming, and/or any other activity with an entry fee and a prize, including, but not limited, to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes;
  
  e) Tax payments and court ordered payments including, but not limited to, Alimony and Child Support;
  
  f) Payments to a Collections Agency. 
  
  6. Your Representations and Agreements; Indemnity. With respect to each and every request for a PayItNow™payment initiated by You, You represent and agree to the following:
  
  a) You are authorized to initiate such request for a PayItNow™payment and hereby authorize US to initiate each PayItNow™payment requested by you in the amount provided in the payment instruction. 
  
  b) Such authorization is operative at all relevant times, including without limitation;
  
  
• At the time you establish the pre-authorization in Online Banking.
  
• At the time you initiate a PayItNow™payment.
  
• At the time of transmittal or debiting by US as provided herein.
  

Attention: Customer Service Center
85 Main Street
Florence, MA 01062

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

(1) Tell us your name and account number (if any),

(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information, 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 ten (10) business days.

We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any problem promptly. If we need more time, however, we may take up to 45 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 determine 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.

9. Our Responsibilities, Liability, Limitations on Liability; Indemnity. In the performance of the services required by this Agreement, We shall be entitled to rely solely on the information, representations and warranties provided by You pursuant to this Agreement, and any other applicable agreement or authorization provided by You, and shall not be responsible for the accuracy or completeness thereof. We shall be responsible only for performing the services expressly provided for in this agreement, and shall be liable only for its gross negligence or willful misconduct in performing those services. We shall not be responsible for Your acts or omissions (including, without limitation, the amount, accuracy, timeliness or transmittal or authorization of any PayItNow™Payments initiated by You) or those of any other person, including without limitation any Federal Reserve Bank, Automated Clearing House or Receiving Depository Financial Institution (including without limitation the return of a PayItNow™Payment by the applicable Receiver or Receiving Depository Financial Institution), and no such person shall be deemed Our agent. You agree to indemnify Us against any loss, liability or expense (including attorneys' fees and expenses) resulting from or arising out of any claim or any person that We are responsible for any act or omission of You or any other person described in this Agreement. In the event of our liability, we shall be liable only for Your actual damages; in no event shall we be liable for any consequential, special, incidental, punitive or indirect loss or damage which you may incur or suffer in connection with this Agreement, whether or not the likelihood of such damages was known or contemplated by Us and regardless of the legal or equitable theory of liability which you may assert, including, without limitation, loss or damage from subsequent wrongful dishonor resulting from Our acts or omissions pursuant to this agreement.
   
   
10. Inconsistency of Name and Account Number: You acknowledge and agree that, if a PayItNow™ Payment describes the Receiver inconsistently by name and/or account number, PayItNow™Payment may be made by the Receiving Depository Financial Institution on the basis of the account number supplied by the Recipient, even if it identifies a person different from the named Recipient, and that Your obligation to pay the amount of the PayItNow™payment to Us is not excused in such circumstances.
    
    
11. Amendments: From time to time We may amend any of the terms and conditions contained in this Agreement, including without limitation, any cut-off time, any business day. Such amendments shall become effective at the time they are posted unless a delayed effective date is expressly stated in the revision. Any use of the Service after a notice of change or after the posting of a revised version of this Agreement in Online Banking will constitute your agreement to such changes and revised versions. Additionally, we may, from time to time, revise or enhance the Service and/or related applications, which may render all such prior versions obsolete. Consequently, We reserve the right to terminate this Agreement as to all such prior versions of the Service, and/or related applications, and limit access to only the Service's more recent revisions or enhancements.
    
    
12. Notices, Instructions, Etc.: We shall be entitled to rely on written notice or other written communication (including without limitation electronic information entered in Online Banking) believed by it in good faith to be genuine and to have been authorized by You, and any such communication shall be conclusively deemed to have been signed by You.
    
    
13. Cooperation in Loss Recovery Efforts: In the event of any damages for which We or You may be liable to each other or a third party pursuant to the services provided under this Agreement, We and You will undertake reasonable efforts to cooperate with each other, as permitted by applicable law, in performing loss recovery efforts and in connection with any actions that the relevant party may be obligated to defend or elect to pursue against a third party.
    
14. Entire Agreement: This Agreement is the complete and exclusive statement of the agreement between Us and You with respect to the subject matter hereof and supersedes any prior agreement(s) between Us and You with respect to the subject matter. In the event performance of the Services provided herein in accordance with the terms of this Agreement would result in a violation of any present or future statute, regulation or government policy to which We are subject, and which governs or affects the transactions contemplated by this Agreement, then this Agreement shall be deemed amended to the extent necessary to comply with such statue, regulation or policy, and We shall incur no liability to You as a result of such violation or amendment. No course of dealing between Us and You will constitute a modification of this Agreement, the Rules, or the security procedures or constitute an agreement between Us and You regardless of whatever practices and procedures We and You may use.