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Online Banking Business Access Agreement

I.    Introduction

II.   Contacting Salem Co-operative Bank

III.  Accessing Your Accounts through Business Online Banking

A.  Requirements

B.  e-Message

C.  Fees

D.  New Services

E.  Benefits of Using Business Online Banking

IV.   Terms and Conditions

A.  Your User ID and Online Password

B.  Your Account Administrator Role

C.  Payment Account

D.  Online Agreement Termination

E.  Responsibility

F.  Overdrafts: Order of Payments, Transfers, Other Withdrawals

G.  Hours of Accessibility

H.  Compliance with NACHA Rules

I.   Additional Terms and Conditions


V.    Bill Payment Services

A.  Using the Service

B.  Bill Payment Fees

VI.   General Terms

A.  Changes to Charges, Fees or Other Terms

B.  Disclosure of Account Information

C.  SCB Contact Information for Questions or Error Correction of Online Banking Transactions

D.  Our Liability

E.  Consent to Electronic Delivery of Notices

F.  Other Agreements

VII.   Protecting Your Account

A. Preventing Misuse of Your Account

B. Unauthorized Transactions in Your Accounts


This Business Online Banking Access Agreement (“Agreement”) contains the terms and conditions governing Business Online Banking.  This Agreement, which includes the Enrollment Application, is a contract that establishes the rules governing electronic access to your account(s) at Salem Co-operative Bank (“SCB”). The terms and conditions of the deposit agreement and disclosures for each of your SCB account(s), as well as your other agreements with SCB such as loan agreements and promissory notes, continue to apply notwithstanding anything to the contrary in this Agreement. By using Business Online Banking, you accept all terms and conditions of this Agreement. This Agreement will be interpreted and governed by Federal laws and regulations, and to the extent there is no applicable Federal law or regulation, by the state laws of New Hampshire or Massachusetts. The terms “we,” “us,” “our,” “Salem Co-operative Bank”, “SCB” and “Bank” refer to Salem Co-operative Bank. “You” and “your” refer to each signer on an account, and to all users to whom you have delegated SCB Business Online Banking access authority. The term “business days” means Monday through Friday, excluding Saturday, Sunday and Federal holidays.


There are several ways to contact SCB about Business Online Banking as noted below:

3 South Broadway, Salem, NH 03079

284 Merrimack Street, Methuen, MA 01844


A.  Requirements

To register your account(s) through Business Online Banking, you must have at least one SCB checking account, access to Internet service, and a valid email address. You must also be operating as a licensed business and have a Taxpayer Identification Number (TIN). If you are a Corporation, a Limited Liability Company or a Partnership, the TIN will be your Employer Identification Number (EIN). If you are a Sole Proprietorship or a DBA, the TIN will be your Social Security Number (SSN). 

B.  e-Message

Sending an e-Message through our secure/encrypted Mailbox service is a way to communicate with us. This is available to you for questions about your account(s) and to provide general feedback. Our Mailbox service is accessible after you sign on with your ID and password to a session of Business Online Banking. To ensure the security of your account information, we recommend that you use our secure/encrypted Mailbox service when asking specific questions about your account.

You cannot use our secured/encrypted Mailbox service to initiate transactions on your account(s) for banking transactions, please use the appropriate functions within Business Online Banking or call Customer Service at (603)893-3333.

C.  Fees

Currently, there are no monthly maintenance or transaction fees for accessing your accounts through Business Online Banking or for using the Online Bill Payment services. Please refer to SCB’s Business Account Fee Schedule. Please note that fees may be assessed by your own Online Internet Service Provider.

SCB reserves the right to charge for Business Online Banking services at a future date, or to change fees upon notice.

D.   New Services

SCB may, from time to time, introduce new online services. By using these services when they become available, you agree to be bound by the rules communicated to you concerning these services. 

E.   Benefits of Using Business Online Banking

With Business Online Banking you can manage your business account(s) from your home or office. SCB Business Online Banking is online/real-time which means that your balance and posted transaction activity information is as current as we know it to be. 

You can use SCB Business Online Banking to:

The following features are limited:


The first time you access your SCB account(s) through Business Online Banking, you agree to be bound by all the terms and conditions of this Agreement and acknowledge your receipt and understanding.

A.   Your User ID and Online Password

You may choose your own User ID, which is limited to 15 characters, following the Bank’s review and approval of your enrollment request. The first time you sign on using the Sign-On ID and the initial password provided by the Bank, you will be required to change your password. Going forward, you may change your password any time by using the Service Center Tab. The identity of your password is not communicated to SCB and will not be known by SCB.  Your password will be encrypted in order to be authenticated.

You may change your password as frequently as you choose. We suggest that you change your password at least quarterly. We recommend you create a password consisting of a minimum of eight characters that utilize upper and lower case alpha, numeric, and special characters. Your password should not be associated with any personal identification, such as social security numbers, address, date of birth, or names of children. For security purposes, it is recommended that you memorize your User ID and password and do not write them down.

You are responsible for keeping your sign-on ID, password, account numbers, and other account data confidential. You are also responsible for all loss or injury resulting from any unauthorized use of your sign-on ID or password. 

B.  Your Account Administrator Role

To access and use any account that you have enrolled in your Business Online Banking, you must designate an authorized signer on the account as the Account Administrator. The Account Administrator is responsible for all activities involving your enrolled accounts. The Account Administrator may choose to authorize other staff members to access or manage such accounts as your agent. The Account Administrator alone will determine the administrative rights for individual staff members, including permission to perform any one or any combination of the following activities: Transfer Funds, Stop Payment, Bill Payment, Manage Accounts, Manage Users and Reports.

Whenever your Account Administrator leaves your employment or you otherwise revoke your Account Administrator’s authority to access Business Online Banking you must call us immediately and notify us in writing. You remain fully liable for all use of your Account Administrator’s Sign-On ID and the activities by your Account Administrator prior to Bank notification and we have had a reasonable opportunity to act upon your request.  Whenever any other person leaves your employment or you otherwise revoke their authority to access Business Online Banking, you must notify your Account Administrator immediately who is solely responsible for deactivating such persons Sign-On ID and access.  You remain fully liable for all transactions that you, or any authorized user, initiate.

You understand and agree that you are solely responsible for all loss and/or damage of any kind resulting from acts or omissions of your Account Administrator and any person to whom you or the Account Administrator give administrative or user rights with respect  to your accounts through SCB Business Online Banking.

C.  Payment Account

You may be asked to designate a payment account for selected services. You agree to pay promptly all fees and charges for services provided under this Agreement, and authorize us to charge the account that you have designated as the payment account or any other account for the fees. If you close the payment account, you must notify us and identify a new payment account for the selected services.

D. Online Agreement Termination

You may cancel Business Online Banking at any time by providing us with written notice. This written notice can be given to us in person at either of our branch locations, by postal mail, or by fax. See section II, Contacting Salem Co-operative Bank. Your access to SCB Business Online Banking will be cancelled within 3 business days of our receiving your written instructions to cancel the service. You will remain responsible for all outstanding fees and charges incurred prior to the date of cancellation.

If you choose to close any of your SCB accounts, you must promptly notify Customer Service at (603) 893-3333.

The Bank reserves the right to cancel your Business Online Banking at any time without prior notice due to insufficient funds in any of your accounts. After cancellation, Business   Online Banking may be reinstated once sufficient funds are available in your account(s) to cover any fees and/or other pending transfers or debits. In order to reinstate these services, you will need to call Customer Service at (603) 893-3333.

The Bank reserves the right to suspend or cancel your Business Online Banking access should suspicious activity be detected. If your Business Online Banking suffers a breach, we will immediately lock-down the account. During our investigation we reserve the right to suspend your access.

Salem Co-operative Bank reserves the right, in its sole discretion, to discontinue the provision of your electronic Online Banking access, or to terminate or change the terms and conditions of which we provide electronic Online Banking access. The Bank will provide you with notice of any such termination or changes as required by law.

If you do not access your accounts through SCB Business Online Banking service for any six (6) month period, SCB reserves the right to cancel Business Online Banking without notice. We reserve the right to make no further transfers or payments from your account(s), including any transactions you may have previously authorized. Your bill payment information will be lost if either you, or we, cancel your Business Online Banking.

E.  Responsibility

Except as specifically provided in this Agreement, or where the law requires a different standard, you agree that neither the Bank nor its service providers shall be responsible for any loss, property damage, or bodily injury, whether caused by equipment, software, or by internet browser providers such as Microsoft (Microsoft Explorer browser), or by Internet access providers, or by online service providers, or by an agent or subcontractor of any of the foregoing.  Notwithstanding our efforts to ensure that the SCB Business Online Banking system is secure, you acknowledge that the Internet is inherently insecure and that all data transfers, including electronic mail, occur openly on the Internet and potentially can be monitored and read by others. Therefore, we cannot, and do not warrant that all data transfers through SCB Business Online Banking, or email transmitted to and from us, will not be monitored or read by others. SCB cannot, and will not guarantee that downloads from this site will not contain viruses or other destructive devices.

F.  Overdrafts: Order Of Payments, Transfers, Other Withdrawals

SCB will make every reasonable effort to ensure that transfers initiated through SCB Business Online Banking, Eastern Standard Time, during a business day, are posted to your account the same day. All transfers completed  after the end of business day, or on a Saturday, Sunday, or Federal holiday, will be posted on the next business day. Our business days are Monday through Friday. We do not consider Saturdays, Sundays, and Federal holidays to be business days.

G. Hours Of Accessibility

You can access your accounts seven days a week, 24 hours a day through Business Online Banking. However, some or all of our Business Online Banking service may not be available due to problems arising in connection with transmissions over the Internet or system maintenance. Whenever possible you will be notified online when this occurs.

H. Compliance With NACHA Rules

You agree to be bound by, and to comply with, the rules of the National Automated Clearing House Association (NACHA), as they may change from time to time, for all bill payment entries whether or not the entry is sent through the Automated Clearing House (ACH) Network.

I. Additional Terms and Conditions


A.  Using the Service

Online Business Bill Payment allows you to schedule bill payments. You can schedule current, future or recurring bills from any of your checking accounts. There is no limit to the number of payments that may be authorized. A separate Bill Payment access agreement in the SCB Online Banking outlines the details of this service.

Salem Co-operative Bank’s Bill Payment Service is provided through a Bill PaymentService Provider, which is not party to this Agreement. The Bill Payment service provider operates and maintains an Internet Server application, which is accessed through the Bank’s Online Banking Service and offers bill payment features and functionality. The Bill Payment Service provider hosts and provides data security for the Salem Co-operative Bank Online Banking Bill Payment Service. Payments to Billers outside the United States or its territories are prohibited through this Service. In addition, payments that violate any law, statue, ordinance or regulation, and any payments related to illegal gambling and/or other illegal activity are prohibited through this Service.

You are solely responsible for any bill payment request you make that contains an error or is a duplicate of another bill payment.

B.Bill Payment Fees

Currently, there are no monthly maintenance or transaction fees assessed for using SCB’s Business Bill Payment service. However, SCB reserves the right to charge for online Business Bill Payment services at a future date, or to change fees upon notice.

You agree to pay any special charges in effect as announced by the Bank from time to time upon reasonable notice. These charges are in addition to the fees and service charges specified in your applicable checking, savings, and overdraft-protection account agreements, such as, uncollected or overdraft charges on your checking account. Please see our Business Fee Schedule for a list of our current fees.

A.  Changes to Charges, Fees or Other Terms

We may change any term of this Agreement at any time. If the change would result in increased fees for any SCB Business Online Banking service, increased liability for you, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, we will give you notice at least 21 days in advance of the effective date of any such change, unless an immediate change is necessary to maintain the security of an account or our electronic fund transfer system. 

We will post any required notice of the change via email, by postal mail or statement message. If advance notice of the change is not required, and disclosure does not jeopardize the security of the account or our electronic fund transfer system, we will notify you of the change within 30 days after the change becomes effective. Your continued use of any or all of Business Online Banking indicates your acceptance of the change. We reserve the right to waive, reduce, or reverse charges or fees in individual situations. You acknowledge and agree that changes to fees applicable to specific accounts are governed by their respective Deposit Agreement and Disclosures you received when you opened your account.

B. Disclosure of Account Information

You understand that information about your account(s) or the transfers you make may be disclosed to others. For example, tax laws require disclosure to the government of the amount of interest you earn. Some transactions, such as large currency and foreign transactions must be reported to the government. To assist in your completing a service you initiated with another company, we may also provide information about your accounts, such as when a prospective creditor seeks to verify information you have given to them in a credit application, or a merchant calls us to verify funds for a check you have written. In addition, we routinely inform credit bureaus when we close accounts for mismanagement or abuse. We may also seek information about you from others, such as credit bureaus, in connection with the opening of or maintaining your account, or in connection with approving your access to Business Online Banking. You agree and hereby authorize all of these transfers of information.

You agree to keep us informed of your current email address on file at all times. Notice from us to your email address constitutes notice to you. If we have notified you of a change in any terms and conditions of your account and you continue to maintain your account after the effective date of the change, you have agreed to the new terms.

C.  SCB Contact Information for Questions or Error Correction of Online Banking Transactions

Contact us immediately if you think your statement is incorrect, or if you need more information about a transaction listed on your statement. See Section II for several ways to contact us.

D.  Our Liability


E.  Consent to Electronic Delivery of Notices

You agree that any notice or other type of communication we provide to you pursuant to the terms of this Agreement, and any future disclosures required by law, including electronic fund transfer disclosures, may be made electronically by sending the notice via email. You agree to notify us immediately of any changes to your email address.

F.  Other Agreements

In addition to this Agreement, you consent to be bound by, and will comply with, the requirements of the applicable Deposit Agreement and Disclosure, the Bank’s rules and regulations, the rules and regulations of any funds transfer system to which the Bank belongs, and applicable State and Federal laws and regulations. We agree to be bound by them also.


A.   Preventing Misuse of Your Account

Your role is extremely important in the prevention of any wrongful use of your account. You agree to examine your statement upon receipt. If you find that your records and ours disagree, you agree to promptly contact Customer Service at (603) 893-3333.

Protecting Personal Information – In addition to protecting your account information, you agree to protect your personal identification information, such as your driver’s license number, social security number, and any other non-public information about you. This information, if used by itself or together with information about your account, may set in motion unauthorized and criminal access to your accounts. It is your responsibility to protect your personal information with the same level of care that you protect your account information.

You are responsible for installing and maintaining appropriate virus protection on your Computer or Mobile Device. We are not responsible for any errors or failures caused by any malfunction of your Computer or Mobile Device. We are not responsible for any viruses, spyware, malware, worms or related problems that may be associated with your Computer or Mobile Device. We are not responsible for any losses or delays in transmission or information that you provide to us or arising out of or incurred in connection with the use of any Internet or other service provider providing your connection to the Internet or any browser software. You are responsible for all telephone, mobile remote access and other charges incurred in connecting to the Bank’s Online Banking Service and for any charges by an Internet service providing connection to the Internet.

You are responsible for keeping your password, account number(s) and other account data confidential. If you believe that your Online Banking password may have been lost or stolen, or that someone has transferred or may transfer money from your account without your permission, notify our Customer Service at once at (603) 893-3333 during regular banking hours or contact the Bank through our secure/encrypted Online Banking Mailbox.

B.  Unauthorized Transactions in Your Accounts

It is important that you do not respond to any attempt in any manner (in person, by phone, postal mail, email, fax, etc.) by anyone purporting to be from SCB, from its affiliates, or from any government agency (such as IRS, FDIC, Secret Service FBI, etc.), or from any other entity, that asks you for your non-public, private information. You are responsible for keeping your sign-on id, password, account numbers, and other personal and account data confidential. Always know with whom you are communicating, and only reveal your account number to a legitimate entity for a purpose you authorize.  Please alert the Bank immediately should you suspect you are receiving scam emails.

Contact us at once if you believe another person has improperly obtained your Business Online Banking password. Also notify us if someone has transferred, or may transfer, money from your account without your permission, or if you suspect any fraudulent activity on your account. A call to Customer Service at (603) 893-3333 is the best way for you to reduce possible loss.

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