Agreements & Disclosures

We believe in transparency, so for your reading pleasure, please find a link below to our account disclosures as well as the content of our Online Banking Services Agreement.

Read our account disclosures here.

‍

Walden Mutual Bank Online Banking Services Agreement

INTRODUCTION

This Online Banking Services Agreement (“Agreement”) is between you (a natural person that uses the Service for personal, family or household purposes) and Walden Mutual Bank. This Agreement governs your use of Walden Mutual Bank’s online banking services (the “Service” or “Online Banking”), as well as any transactions that you may initiate with and/or request from Walden Mutual Bank through the Service (“Online Transactions”). The Service permits you to perform a number of banking functions involving your Accounts that are linked to the Service through the use of a personal computer or a mobile Internet-enabled access device. You agree to be bound to the terms and conditions pertaining to Online Banking and the specific terms and conditions applicable to any other associated services that you elect to use as set out below, including the Bill Payment Service, eStatements Service, and Mobile Check Deposit Service.

Certain important terms applicable to all services of Online Banking, unless otherwise defined in this Agreement, are set out in the Definitions section in Part VI – DEFINITIONS at the end of this Agreement.

This Agreement does not cover transfers you may make through the branch, a telephonic individual voice response system (IVR) or through an automated teller machine (ATM). Walden Mutual Bank is providing you with this Agreement in accordance with, and it is subject to, Applicable Law. Please read this document carefully, as it discusses in detail your rights and responsibilities when enrolling in the Service and when conducting Online Transactions through the Service.

By proceeding to use the Service, you acknowledge that you have read, understood, and agree to be bound by this Agreement and the terms and conditions associated with your use of the Service, including any Online Transactions you initiate through the Service.‍

PART I: Online Banking Service Features

This portion of the Agreement describes the general features, terms and conditions of Online Banking applicable to Consumer and Commercial customers, except as may otherwise be expressly indicated.

WHO IS ELIGIBLE

You are eligible to use Online Banking if you maintain an open Account (Grow Local or Certificate of Deposit account) and have executed this Agreement, and if we have otherwise approved your use of the Service, as described further below.

ACCESS

To use Online Banking, you must have a Computer or a mobile Internet-enabled access device (hereinafter referred to as a “Mobile Device”). You must also have access to the Internet and an email address. To register for the Service, you must complete an enrollment and/or other set-up process and associated form(s) and be approved by us in our sole and exclusive discretion. Your enrollment in Online Banking will, subject to other terms of this Agreement, enable you to use all features of the Service, and access those Accounts that you have designated through and that are eligible for access with Online Banking. You can also request to add or remove an Account by submitting a secure message through Online Banking.

Subject to Applicable Law, and at our sole discretion, we reserve the right to modify, suspend, or terminate access to the Service at any time without notice or refund of previously incurred fees. You authorize us, at our election and as permitted by Applicable Law, directly or through an agent, to obtain your credit report in connection with your request for use of Online Banking and, in our sole discretion, thereafter from time to time, in connection with your use of the Service. We may limit your access to the Service or the dollar amount and/or frequency of your transfers and payments based on your credit report and/or review of other risk factors.

HOURS OF ACCESS

Online Banking is generally available seven (7) days a week, twenty-four (24) hours a day. Some or all features of Online Banking may not be available from time to time due to problems arising in connection with transmissions over the Internet, as well as emergency or scheduled system maintenance. We will post a notice of any extended periods of non-availability on the Online Banking site.

BASIC FEATURES OF THE SERVICE

By enrolling in Online Banking, you will have access to the Service’s basic features, which allow you to:

  1. View current balance and transaction information on your Account(s);
  2. View Account history;
  3. Perform Internal Transfers between certain Account(s) you have with us on either a one-time or recurring basis;
  4. Perform certain External Transfers between your Account(s) with us and accounts at other financial institutions on either a one-time or recurring basis;
  5. Request stop payment of checks you have written;
  6. View check images;
  7. Perform self-service Account maintenance such as viewing electronic copies of account statements and changing address and phone information;
  8. Set-up Account alerts;
  9. Send secure messages to us regarding the Service;
  10. Pay bills using the Bill Payment Service;
  11. Use your Mobile Device to perform certain Mobile Banking Service functions;
  12. Use your Mobile Device to perform certain Mobile Remote Deposit Capture Service; and
  13. Some of the above features may not be available for certain Accounts or customers. Additional information regarding some but not necessarily all of the above features is provided below.

For certain Accounts accessible through our Service, you will only have the ability to view certain Account information and will not be able to engage in online transactions at this time. Additional electronic banking services may be added by us from time to time in our sole discretion. By using these additional services when they become available, you agree to be bound by the terms and conditions associated with such services, as such terms and conditions are provided to you by us.

The use of certain features or modules related to the Service may incur fees or other charges. See our Fee Schedule for further information.

LIMITS ON AMOUNTS AND FREQUENCY OF ONLINE BANKING AND MOBILE BANKING TRANSACTIONS

The number of transfers from Accounts and the amounts which may be transferred via Online Banking, including via the Mobile Banking Service, are limited pursuant to the terms of the applicable Deposit Account Agreement and as otherwise described in this Agreement or in other communications we may provide to you.  For a more detailed description of the limits on such Internet transfers, please refer to the applicable Deposit Account Agreement.

INTERNAL TRANSFERS

Internal Transfers (transfers between your eligible Accounts with us) may be processed as follows:

Recurring Transfers. If you designate an Internal Transfer as a recurring transfer, you may request, and we will use, a Scheduled Initiation Date that re-occurs on a specified regular basis (e.g., weekly, semi-monthly, monthly, etc). You will designate a “start date”. You must have sufficient Available Funds by midnight of the night before the Scheduled Initiation Date; however, funds will be deducted from your designated Account on the Scheduled Initiation Date. Recurring transfers may be cancelled up to the established funds transfer cut-off time displayed in Online Banking in advance of the Scheduled Initiation Date.

One-Time Transfers.

  1. One-time transfers and payments are used for transfers and payments between eligible Accounts which occur on an infrequent or irregular basis, or which vary in amount. To have a transfer processed on the same Business Day, we must receive your instructions before the established funds transfer cut-off time displayed in Online Banking and/or as otherwise set forth in this Agreement. You must have sufficient Available Funds on the day and at the time you request a same-day one-time transfer. Same-day one-time transfers may not be cancelled for any reason once the transaction has been approved by us.
  2. You may also request that a transfer be made on a future date that you may designate which is in advance of the Scheduled Initiation Date. The “Scheduled Initiation Date” will be the effective date you enter, or the next Business Day should the effective date fall on a weekend or holiday. If you request a transfer for a future date, we process the transaction at the opening of business on that day only if it is a Business Day; otherwise, the transaction will be processed on the following Business Day. If we receive your instruction after the end of a Business Day, we will process the transaction on our next Business Day.
  3. If you designate an Internal Transfer for a future date, you must have sufficient Available Funds by midnight of the night before the Scheduled Initiation Date; however, funds will be deducted from your designated Account on the Scheduled Initiation Date. Scheduled future Internal Transfers may be cancelled up to the established funds transfer cut-off time displayed in Online Banking in advance of the Scheduled Initiation Date.

Limits on Internal Transfers. In addition to the Available Funds requirements and other limits described above and in this Agreement generally, please see the applicable Deposit Account Agreement for a more detailed description of limits on Internal Transfers.

Internal Transfers Set-Up

Canceling or Modifying Internal Transfers

In order to cancel or change a scheduled transaction that is a future-dated or a recurring Internal Transfer, you may use Online Banking or the Mobile Banking Service and follow the instructions provided to you, all in accordance with the Service’s deadlines for cancellation or modification as described therein.

Internal Transfers and Available Funds

You agree to have Available Funds on deposit in the Account you have designated in amounts sufficient to pay for all Internal Transfers requested, as well as any other payment obligations you have to us. We reserve the right, without liability, to reject or reverse an Internal Transfer, as applicable, if you fail to comply with this requirement or any other terms of this Agreement.

If you do not have sufficient Available Funds in your designated Account and we have not exercised our right to reverse or reject an Internal Transfer, as applicable, you agree to pay for such payment obligations on demand. You further agree that we may, at our option, charge any of your Accounts with us to cover such payment obligations.

EXTERNAL TRANSFERS

  1. Registration and Access
    You must be enrolled in Online Banking in order to transfer funds between your Accounts with us and accounts at other financial institutions (“External Transfers”). External Transfers are outbound and inbound transfers that move funds to or from one of your eligible Accounts with us to or from a registered account at another financial institution. An “Inbound” transfer moves funds into an Account you own with Walden Mutual Bank from an account you own outside of Walden Mutual Bank. An “Outbound” transfer moves funds from an Account you own at Walden Mutual Bank to an account outside Walden Mutual Bank that is owned by you or for which you otherwise have the authority to transfer funds. You will need to register each non-Bank account that you wish to use for External Transfers.

    You agree that (i) you will only register eligible non-Bank accounts (i.e., accounts at financial institutions other than Walden Mutual Bank) on which you are an individual or joint owner, or for which you otherwise have the authority to transfer funds, and (ii) you will only use External Transfers for transferring funds between your consumer or commercial Accounts with us and registered consumer or commercial accounts at other financial institutions.
  1. Scheduling External Transfers
    External Transfers can be scheduled (or initiated) on either a one-time basis or a recurring basis. One-time transfers may be scheduled to be sent immediately or scheduled to be sent on a future date. The recurring transfer feature may be used when a set amount is transferred at regular intervals. One-time future-dated or future recurring transfers scheduled for a weekend or a non-Business Day will be processed on the next Business Day. All other one-time future-dated and recurring transfers will be processed at the end of the Business Day requested. The cut-off time and delivery date of External Transfers is set forth in Online Banking and/or in this Agreement.
  1. When Transfers are Debited/Credited to/from Your Account(s)
    Transfers Initiated Before Cut-Off Time: Funds involving an External Transfer from your Account with us (Outbound) will be debited from your Account and credited to the receiving non-Walden Mutual Bank account on the next Business Day after you initiate the transfer. Funds involving Inbound transfers will be debited from the external, non-Walden Mutual Bank account on the next Business Day after you initiate the transfer. Funds credited to the receiving Walden Mutual Bank account will not be posted until the second Business Day following the day of debit from the non-Walden Mutual Bank account. For accounts that are less than 30 days old, the funds credited to the receiving Walden Mutual Bank account may not be available until the fifth Business Day following the day of debit from the non-Walden Mutual Bank account.

    Transfers Initiated After Cut-Off Time: Funds involving an External Transfer from your Account with us (Outbound) will be debited from your Account and credited to the receiving non-Walden Mutual Bank account on the second Business Day after you initiate the transfer. Funds involving Inbound transfers will be debited from the external, non-Walden Mutual Bank account on the second Business Day after you initiate the transfer. Funds credited to the receiving Walden Mutual Bank account will not be posted until the second Business Day following the day of debit from the non-Walden Mutual Bank account. For accounts that are less than 30 days old, the funds credited to the receiving Walden Mutual Bank account may not be available until the fifth Business Day following the day of debit from the non-Walden Mutual Bank account.
  1. Canceling Scheduled Transfers
    Future-dated External Transfers (either one-time or recurring) can be cancelled prior to the cut-off time set forth in Online Banking on the Business Day prior to the date the transfer is scheduled to be made. However, if the transfer’s status is processing, you can no longer cancel it. NOTE: Immediate transfers cannot be cancelled via the Service once the transfer has been processed.
  1. Limitations on Transfers
    In addition to the limits described in the applicable Deposit Account Agreement, External Transfers are subject to daily and aggregate total limits which may change at any time, without prior notice (other than any notice required by applicable law).
  1. Disqualifying Events
    You agree that we may reduce the dollar limits on transfers as described in the Deposit Account Agreement, or terminate your eligibility to make future transfers (including canceling scheduled future transfers), in each case without prior notice (other than any notice required by Applicable Law), upon occurrence of a Disqualifying Event. Each of the following is a “Disqualifying Event”:

    Any of your Accounts with us are not current or are not in good standing.

    You have had an overdraft, an over-limit item, or an item returned for insufficient funds with respect to any Account with us during the current or three (3) prior calendar months.

    You have had any prior External Transfer involving accounts at other financial institutions cancelled, revoked, or not completed due to insufficient funds, revoked authorization, stopped payments, frozen accounts, or any similar reason.

    You attempt to use External Transfers to transfer funds between your eligible consumer Accounts with certain non – consumer accounts at other financial institutions, or to transfer funds between your eligible business Accounts with certain non – business accounts at other financial institutions.

    We suspect fraud or unauthorized use has or may occur with respect to your Account(s) with us or with respect to any External Transfer(s).
    ‍‍
  2. External Transfers and Available Funds
    You agree to have Available Funds on deposit in the Account you have designated in amounts sufficient to pay for all External Transfers requested, as well as any other payment obligations you have to us.

BILL PAYMENT SERVICE

Once enrolled in Online Banking, you may use our Bill Payment Service to direct us and/or our Service Provider to make payments from the Funding Account to the Payees that you choose in accordance with this Agreement.

  1. Registration and Access
    You must be enrolled in Online Banking in order to transfer funds between your Accounts with us and accounts at other financial institutions (“External Transfers”). External Transfers are outbound and inbound transfers that move funds to or from one of your eligible Accounts with us to or from a registered account at another financial institution. An “Inbound” transfer moves funds into an Account you own with Walden Mutual Bank from an account you own outside of Walden Mutual Bank. An “Outbound” transfer moves funds from an Account you own at Walden Mutual Bank to an account outside Walden Mutual Bank that is owned by you or for which you otherwise have the authority to transfer funds. You will need to register each non-Bank account that you wish to use for External Transfers.

    You agree that (i) you will only register eligible non-Bank accounts (i.e., accounts at financial institutions other than Walden Mutual Bank) on which you are an individual or joint owner, or for which you otherwise have the authority to transfer funds, and (ii) you will only use External Transfers for transferring funds between your consumer Accounts with us and registered consumer accounts at other financial institutions.
  1. Scheduling External Transfers
    External Transfers can be scheduled (or initiated) on either a one-time basis or a recurring basis. One-time transfers may be scheduled to be sent immediately or scheduled to be sent on a future date. The recurring transfer feature may be used when a set amount is transferred at regular intervals. One-time future-dated or future recurring transfers scheduled for a weekend or a non-Business Day will be processed on the next Business Day. All other one-time future-dated and recurring transfers will be processed at the end of the Business Day requested. The cut-off time and delivery date of External Transfers is set forth in Online Banking and/or in this Agreement.
  1. When Transfers are Debited/Credited to/from Your Account(s) 
    Transfers Initiated Before Cut-Off Time: Funds involving an External Transfer from your Account with us (Outbound) will be debited from your Account and credited to the receiving non-Walden Mutual Bank account on the next Business Day after you initiate the transfer. Funds involving Inbound transfers will be debited from the external, non-Walden Mutual Bank account on the next Business Day after you initiate the transfer. Funds credited to the receiving Walden Mutual Bank account will not be posted until the second Business Day following the day of debit from the non-Walden Mutual Bank account. For accounts that are less than 30 days old, the funds credited to the receiving Walden Mutual Bank account may not be available until the fifth Business Day following the day of debit from the non-Walden Mutual Bank account.

    Transfers Initiated After Cut-Off Time: Funds involving an External Transfer from your Account with us (Outbound) will be debited from your Account and credited to the receiving non-Walden Mutual Bank account on the second Business Day after you initiate the transfer. Funds involving Inbound transfers will be debited from the external, non-Walden Mutual Bank account on the next Business Day after you initiate the transfer. Funds credited to the receiving Walden Mutual Bank account will not be posted until the second Business Day following the day of debit from the non-Walden Mutual Bank account. For accounts that are less than 30 days old, the funds credited to the receiving Walden Mutual Bank account may not be available until the fifth Business Day following the day of debit from the non-Walden Mutual Bank account.
  1. Canceling Scheduled Transfers
    Future-dated External Transfers (either one-time or recurring) can be cancelled prior to the cut-off time set forth in Online Banking on the Business Day prior to the date the transfer is scheduled to be made. However, if the transfer’s status is processing, you can no longer cancel it. NOTE: Immediate transfers cannot be cancelled via the Service once the transfer has been processed.
  1. Limitations on Transfers
    In addition to the limits described in the applicable Deposit Account Agreement, External Transfers are subject to daily and aggregate total limits which may change at any time, without prior notice (other than any notice required by applicable law).
  1. Disqualifying Events
    You agree that we may reduce the dollar limits on transfers as described in the Deposit Account Agreement, or terminate your eligibility to make future transfers (including canceling scheduled future transfers), in each case without prior notice (other than any notice required by Applicable Law), upon occurrence of a Disqualifying Event. Each of the following is a “Disqualifying Event”:

    Any of your Accounts with us are not current or are not in good standing.

    You have had an overdraft, an over-limit item, or an item returned for insufficient funds with respect to any Account with us during the current or three (3) prior calendar months.

    You have had any prior External Transfer involving accounts at other financial institutions cancelled, revoked, or not completed due to insufficient funds, revoked authorization, stopped payments, frozen accounts, or any similar reason.

    You attempt to use External Transfers to transfer funds between your eligible consumer Accounts with certain non – consumer accounts at other financial institutions, or to transfer funds between your eligible business Accounts with certain non – business accounts at other financial institutions.

    We suspect fraud or unauthorized use has or may occur with respect to your Account(s) with us or with respect to any External Transfer(s).
    ‍
  2. External Transfers and Available Funds
    You agree to have Available Funds on deposit in the Account you have designated in amounts sufficient to pay for all External Transfers requested, as well as any other payment obligations you have to us.

‍