Pacific West Bank (“Bank”) offers a variety of treasury management services to its business customers (“Customer”, “you”, “your”, “yours”). This Agreement sets forth the terms and conditions applicable to all of the Services offered by Bank. By executing one or more Applications or requesting one or more Services or by using one or more Services, Customer accepts the terms of this Agreement and acknowledges that this Agreement, each Application executed by Customer or its Agent and any Supplemental Documentation govern the Services.
In the event that Customer has designated an Agent to act on Customer’s behalf with respect to this Agreement, Bank will accept all Instructions from such Agent upon receipt of evidence satisfactory to Bank, in its sole discretion, of Agent’s ability to act on behalf of Customer. Bank may continue to accept such Instructions until Bank has received written notice of revocation or termination of such authority from a representative demonstrating authority to act on behalf of Customer, in a form and manner reasonably satisfactory to Bank.
All Services involving any Accounts remain subject to other agreements concerning such Accounts, including without limitation, any deposit agreement and any Account Disclosures and availability schedules in effect from time to time.
Bank and Customer shall agree to one or more Security Procedures to be used in connection with certain Services. Customer agrees that such Security Procedures are commercially reasonable for Customer, and Customer shall be bound by any Instructions, Entries, Wire Transfer Request, fund transfer, transaction, service change order or any other communication that is acted upon by Bank in accordance with the Security Procedures. Customer acknowledges and agrees that the Security Procedures are not for the purpose of detecting errors in the transmission or content of any information, Wire Transfer Request, service change order or Instruction transmitted by Customer. If Customer selects certain Security Procedures to use in connection with a Service and the selected Security Procedures provide less protection than other Security Procedures offered by Bank, the Security Procedures chosen by Customer shall be deemed commercially reasonable. Bank reserves the right to audit Customer’s compliance with the Security Procedures and to mandate controls or suspend Services until Customer complies with such Security Procedures. Bank may, in its sole discretion, require additional or new Security Procedures and/or change any Security Procedures from time to time, which shall also be deemed commercially reasonable. Customer’s continued use of a Service after Bank has required new or additional Security Procedures or changed the Security Procedures shall constitute Customer’s agreement that such Security Procedures are commercially reasonable for Customer.
Business Online Banking
Pacific West Bank’s Business Online Banking services allows Customers to perform the following transactions and/or services
*You must execute the applicable Applications to use these services.
These activities are limited to the extent noted herein and in any agreement(s) governing your various accounts with us.
Electronic Document and Disclosure Agreement
Bill Payment Service
You can arrange, at your option, for the payment of your current, future and recurring bills from your designated Bill Pay Account. For Bill Payment Service, your Payee list may include utility companies, merchants, financial institutions, insurance companies, individuals, etc. within the United States whom you wish to pay through Bill Payment Service. Please include the full name of the Payee and a complete mailing address and telephone number for each Payee, along with your account number with the Payee, the amount of the Payment, and whether the Payment is recurring. The Financial Institution reserves the right to decline to make Payments to certain persons and entities. You agree that any Payment for taxes, Payments that are court-ordered, government payments and Payments outside of the United States are prohibited and you agree that you will not attempt to use the Service to make these types of Payments. On recurring Payments, it is the responsibility of the account owner or designated authorized users to update Payee account information such as address changes, account numbers, etc.
Payments are posted against your ledger balance.
With the Small Business Bill pay service you may:
ACH Origination Service
This Section sets forth the terms and conditions relating to Automated Clearing House Service (the “ACH Service”) and is applicable only to Customers who execute an Application requesting ACH Service. By using the ACH Service, Customer may transfer funds by means of Entries which may be sent through the ACH network or processed directly by Bank. Capitalized terms used in this Section that are not otherwise defined in this Agreement will have the meanings provided in the Rules.
Wire Transfer Service
This Section sets forth the terms and conditions of Bank’s Wire Transfer Service.
Remote Deposit Capture
Subject to the terms, provisions and conditions of this Agreement and the Application, Financial Institution shall provide the Remote Deposit Service to Customer, which allows Customer to make deposits to Customer’s approved deposit accounts from Customer’s office by scanning checks on a desktop scanner and delivering the images and information required hereby to Financial Institution or Financial Institution’s designated processor (a “Processor”). The terms Financial Institution and Processor may be used interchangeably when used in relation to any services performed by a Processor on behalf of Financial Institution including, but not limited to, the receipt and processing of images and check data and any notices related thereto.
The scanner must capture an image of the front and back of each Check (as herein defined) to be deposited (each an “Image” and, if more than one, “Images”) in accordance with the Procedures (as herein defined), must read and capture the magnetic ink character recognition (“MICR”) line on each check and must read and capture all such other data and information as is required by this Agreement. After capture of the Images, the MICR line on each check and all other required data and information from each check, Customer will transmit one or more files containing the Images, the MICR line from each check and all other required data and information from or pertaining to all checks and all batched ACH (as herein defined) data and other required information (each such file a “File” and, if more than one, “Files”) to Financial Institution or Processor via the Internet. Subject to compliance with the terms, provisions and conditions of, and as provided in, this Agreement, Financial Institution will provisionally credit the Account or Accounts designated by Customer for the amount of the deposit(s) to which the File(s) pertains on the day of receipt of the File(s) and enter the images of the checks into the collection process, in accordance with the provisions of Financial Institution’s then current deposit account agreement and disclosure pertaining to the Account(s) into which the deposit is to be made (the “Deposit Agreement”) and this Agreement. Customer acknowledges and agrees that Financial Institution may discontinue, and/or change the terms of the Remote Deposit Service or any related content, features, products or services associated therewith, at any time without notice or liability to Customer or any third party. Customer hereby agrees that Financial Institution shall be the exclusive provider of the Remote Deposit Service provided in accordance with this Remote Deposit Service Schedule and that Customer will not use the same or similar services of any other party.
Check Positive Pay and ACH Positive Pay