Online Banking Electronic Services Agreement
This Agreement contains important information regarding your rights and obligations as a consumer or business user of the Online Banking service ("Services" and/or "Online Banking"), including Bill Payer and Funds Transfer. The terms of this Agreement apply to consumer and business online users equally unless otherwise indicated. It also describes the rights and obligations of HomeStreet® Bank.
DISCLOSURE REQUIRED BY FEDERAL LAW
Please read this important information before proceeding. Under federal law, you must consent to receiving the related legal disclosures and agreements electronically before we can provide them to you in this manner. Your consent will only apply to the online banking services you have requested, and will not apply to any other products and services you obtain from HomeStreet Bank, unless you have separately consented to electronic delivery of such information. If you later withdraw your consent for electronic delivery, such withdrawal will not void or alter any transactions you have already agreed to electronically.
If you do not want to receive the legal disclosures, agreements, and instructions electronically, you should exit this area of our web site. If you do not consent to receiving an electronic copy of the legal disclosures, agreements and instructions pertaining to online banking, we cannot proceed with online banking registration at this time. Please visit any of our branches to speak with a customer service representative. If you consent to receive the disclosures, agreements and instructions electronically, you can also request a paper copy of the related legal disclosures, agreements and instructions by contacting our Customer Service Center at 800-719-8080. We will not charge you any fees for providing a paper copy of the disclosures, agreements and instructions.
System Requirements: To utilize HomeStreet Bank’s Online Services, you will need:
- A personal computer or other access device, which is capable of accessing the Internet (e.g., you must have a modem and available phone line, a cable Internet connection or some other means of access to the Internet, and you must have an active account with an Internet service provider). Your access to this page verifies that your system meets these requirements.
- An Internet web browser which is capable of supporting 128-bit SSL encrypted communications, which requires a minimum web browser version of either Microsoft ® Internet Explorer version 6.0, Netscape Navigator® version 6.1, or Safari 1.2. Your access to this page verifies that your browser and encryption software meet these requirements.
If the system requirements change and such change poses a material risk that you will be unable to access your information electronically, we will notify you of the changes and request your consent to continue receiving the electronic disclosures and statements.
By requesting and using one of these Services, you agree to comply with the terms and conditions of this Agreement and all Agreements you are required to accept to use specific services within online banking. We may also introduce new services for Online Banking from time to time. By using any new service, you agree to be bound by the rules that will be made available to you concerning the service.
Please read this Agreement carefully and keep a copy for your records.
Modifications to This Agreement
HomeStreet Bank may modify the terms and conditions applicable to the Online Banking, Funds Transfer or Bill Payer services from time to time. We will notify you of any changes by delivering a notice of the modifications to you or by sending you an electronic mail message (email). The revised terms and conditions will be effective at the earliest date allowed by applicable law. We are not required to give you prior notice when an immediate change is necessary to maintain or restore the security of our system. We reserve the right to terminate this Agreement and your use of the Services, in whole or in part, at any time.
Other Agreements
In addition to this Electronic Services Agreement, you and HomeStreet Bank agree to comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking service or the Bill Payer service is your acknowledgment that you have received these agreements and intend to be bound by them. You should also review all other disclosures you received when you opened your accounts with HomeStreet Bank, including the disclosed fees that may be imposed on your account(s).
Definitions
The following definitions apply in this Agreement:
"Services" refers to the Online Banking service used by consumers and businesses, and other services available within online banking, including Bill Payer, Funds Transfer, ACH and Wire Transfers.
"Online Banking" is the Internet-based service providing access to your HomeStreet Bank account(s).
"Online Account" means any HomeStreet Bank account which you access using the Services.
"Password" is the code you create that establishes your connection to the Services.
"We", "us", "our", and "Bank" refer to HomeStreet Bank, which offers the Services.
"You" and "your" refer to each account holder.
"Business day" means Monday through Friday, excluding Saturday, Sunday, and federal banking holidays.
"Time of day" references are to Pacific Time or Pacific Daylight Time, as applicable.
Access to Services
You can gain access to your online accounts through the use of your Internet-enabled device, your Internet Service Provider, and applicable ID’s and passwords.
Consumer users: You will receive your initial user ID and initial password once you register for the Services. You will be required to select a new user ID and password the first time you log into Online Banking.
Business users: You will be issued a company ID and user ID after you register for the Services. You will also be issued a company password and user password which you will be required to change during the first log in session. All users of Business Online Banking will be required to use a company ID and password along with a user ID and password to access the Services.
You are responsible for obtaining, installing, maintaining, and operating all equipment used for the Online Banking and Bill Payer services. HomeStreet will not be held responsible for any error or failure caused by the malfunction of your computer or other Internet-enabled device or any incompatibility with the Services.
Hours of Operation
Online Banking service and Bill Payer service are available 24 hours a day, seven days a week, except during maintenance periods or emergency service interruptions. For transaction purposes, HomeStreet Bank’s business days are Monday through Friday, excluding holidays. All wire transfer requests received after 2 p.m. Pacific Time, ACH transfers and stop payment requests received after 3:00 p.m. Pacific Time, bill payments scheduled after 6:00 p.m. Pacific Time and external funds transfer requests received after 10 p.m. on business days, Saturdays, Sundays, or holidays that HomeStreet Bank chooses to remain closed, will be processed on the next business day, unless otherwise stated within the Services.
Transfers between accounts at HomeStreet Bank that you initiate online are reflected immediately in your account balance and detail once the transaction is confirmed.
Electronic Mail
You agree that HomeStreet Bank may respond to you by electronic mail (email) with regard to any matter related to the Online Banking or other services within online banking, including responding to any claim of unauthorized electronic funds transfer that you make. Any email sent to you by HomeStreet Bank will be considered received by you within three (3) calendar days of the date it was sent, regardless of whether or not you sign on to the Service(s) within that time frame. It is your responsibility update your email address within the Services, and the Bank will have no liability for the non-receipt of an email notification that is returned due to an invalid address.
If you send an email message to HomeStreet Bank, we will consider it received on the following business day. You agree that the Bank will have a reasonable amount of time to act on your email message.
You may not use email to initiate transactions on your account(s). You also should not rely on email if you need to communicate with the Bank immediately (for example: to report an unauthorized transaction from one of your accounts, or to stop a payment that is scheduled to occur).
Sending unencrypted email over the Internet is not a secure method for transmitting personal, financial or account information. In order to protect the integrity of your information, please do not submit sensitive information via email communication with HomeStreet. If your question involves personal information related to HomeStreet’s banking services, please visit your local branch, contact our Customer Service Center at 800-719-8080 or 206-389-6309 in the Seattle area or visit homestreet.com and click on Contact Us to send us an email using our Contact Us secure email form.
Protecting Your User ID and Password
Consumer users: Your initial ID will be sent to you after you have registered for the Services. When you log onto Online Banking the first time, you will be required to change your ID and password. Your password must contain between 8 and 14 characters; at least 2 numbers and cannot contain any leading or trailing blanks. Passwords are not case sensitive. Special characters are encouraged but not required. (for example: & % $ # @).
Business users: After enrolling for Online Banking, the company administrator/Super User will receive a company id and password, and a user id and password. The first time you access company accounts online, you will be requested to change the company password. The first time a user logs into Business Online Banking, they will be prompted to change their password. Passwords must be 8 to 14 characters in length and contain two numbers. We strongly recommend special characters (for example: & % $ # @) for added security. Passwords are case sensitive.
All transactions initiated with your user ID and password will be attributed to you. You should treat your password with the same confidentiality as your ATM PIN and other personal financial information. You agree not to allow anyone to gain access to your Online Banking account(s), or to let anyone know your password used with these Services. You agree to assume responsibility for all transactions conducted with your password and User ID, up to the limits allowed by applicable law.
Online Banking Services Available
The Online Banking service allows you to view your account information and to transfer funds between your accounts at HomeStreet Bank, as applicable. You may also view check images, create customized reports on your accounts, download transaction information to certain financial management software and enroll in Bill Payer services. Consumer customers can obtain e-Statements and transfer funds between their HomeStreet accounts and accounts they have at other financial institutions and brokerage firms using the Funds Transfer Service. Business Banking Online customers can use the Service to stop payments on checks. By signing a Business Banking Online Transfer Agreement, approved business customer can also perform wire transfers, ACH payments, tax payments and payroll direct deposits, in accordance with the Terms and Conditions stated in the Agreement.
Online Banking Transaction Limitations
Transfers and/or withdrawals from your money market or savings account made in the branch or at the ATM are unlimited. All other transfers are limited by federal regulations to six (6) during a calendar month. Of the six (6), only three (3) may be by check, draft of point of sale (POS) payable to third parties. Transfers include: pre-authorized transfers, automatic transfers, transfers to an overdrawn account, telephone transfers requested through the branch or Customer Service Center, Telephone Banking transfers, automatic payments (excluding HomeStreet Bank mortgage/loan payments), Online Banking transfers and bill payments, and internet generated transactions.
Accounts that require more than one signature for withdrawal cannot be set up for Online Banking Service.
Online Banking, Bill Payer and Funds Transfer Fees
Consumer and business users: HomeStreet Bank offers the benefits and convenience of the Online Banking and Bill Payer services to consumer and business customers free of charge. If you would like the additional convenience of paying bills and making other payments from your online account, you can enroll in the free Bill Payer service through HomeStreet’s Online Banking service.
Consumer users: Transfers using the Funds Transfer feature are based on the type of transaction performed, according to the current Schedule of Fees, which is also disclosed before you confirm the online transaction.
Business users: HomeStreet Bank offers the benefits and convenience of processing wires and initiating ACH transactions using the Online Banking services. Wire and ACH transactions will be charged according to the current fee schedule. You can enroll in Bill Payer services through HomeStreet’s Online Banking service.
NOTE: Online Banking and Funds Transfer charges are in addition to any other monthly service fees or per transaction fees that apply to your account as disclosed to you in the information you received when you opened your account or as may have been updated since that time and disclosed to you.
Consumer’s Liability for Unauthorized Transfers
If your password has been lost or stolen, or if someone has transferred funds without your permission, and you notify us within two (2) business days after you learn of the loss or theft, you can lose no more than $50 if someone uses your password without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your password, and we establish that we could have stopped someone accessing your account without your permission if you had told us, you could lose as much as $500.
If your statement or receipt shows transfers, withdrawals, or purchases that you did not make or authorize, notify HomeStreet Bank immediately. If you do not notify us within 60 days after the statement is sent to you, you may not recover any money lost after the 60 days if we can establish that we could have stopped someone from taking the money if you had notified us in time. If extenuating circumstances delayed you from contacting the Bank, these time periods will be extended for a reasonable period.
If you think your password has been lost or stolen or that someone has transferred money from your account without your permission, contact your branch or the Customer Service Center at the number listed on the last page of this Agreement.
Unauthorized Transfers on Business Accounts
If you think your password has been lost or stolen or that someone has transferred money from your account without your permission, immediately change your password and call HomeStreet Bank. Phoning the Bank is the best way to minimize your losses. Also, if your statement shows transfers, withdrawals, or purchases that you did not make or authorize, notify HomeStreet Bank immediately.
Questions regarding unauthorized transfers or errors can be directed to your branch or the Customer Service Center at the number listed on the last page of this Agreement.
Errors or Questions About Consumer Electronic Transfers
Telephone or write to us immediately at the phone number or address shown above if you think your statement or receipt is incorrect, or if you need more information about a transfer shown 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 error or problem appeared.
Notification should include the following: - Your name and account number;
- A description of the error or the transfer you are unsure about, and a clear explanation as to why you believe it is an error, or why you need more information; and
- The dollar amount of the suspected error and date on which it occurred. If you notify us verbally, we will require you to send us your complaint or question in writing within 10 business days to the Corporate Headquarters address shown on the last page of this agreement.
We will determine whether an error occurred within 10 business days after we hear from you (20 business days for new accounts*) and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days for point-of-sale transactions, foreign transactions, and transactions on new accounts*) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days for new accounts*) for the amount you think is in error, so that you will have 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.
We will tell you the results of our investigation within three (3) business days after completing it. If we decide 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. If provisional credit was made and we decide no error was made, we will reverse the provisional credit and notify you.
*An account is considered new if the electronic transfer occurs within the first 30 days after the account is opened.
Errors or Questions About Business User’s Electronic Transfers
Telephone or write to us immediately at the phone number or address shown on the last page of this agreement, if you think your statement or receipt is incorrect, or if you need more information about a transfer shown on the statement or receipt.
Notification should include the following: - Your name and account number;
- A description of the error or the transfer you are unsure about, and a clear explanation as to why you believe it is an error, or why you need more information; and
- The dollar amount of the suspected error and date on which it occurred. If you notify us verbally, we will require you to send us your complaint or question in writing to the Corporate Headquarters address shown on the last page of this agreement.
We will determine whether an error occurred as soon as possible after receiving notification from you and will correct any error on our part promptly.
Our Liability for Failure to Make a Transfer
If we do not properly complete a bill payment, or a transfer to or from your account on time, or in the correct amount according to our agreement with you, we will be liable for your losses or damages resulting directly from such failure in accordance with the law.
However, there are some exceptions. For example, we will not be liable in the following instances: - If, through no fault of ours, you do not have enough money available funds in your account to make the transfer.
- If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure, or break down) prevent the transfer, despite reasonable precautions that we have taken.
- If there is a hold on your account, or if access to your account is blocked, in accordance with bank policy.
- If your funds are subject to legal process or other encumbrance restricting the transfer.
- If you know or should have known that someone has accessed your accounts without your permission, and you fail to notify us immediately.
- If you have not properly followed the scheduling instructions included in this Agreement on how to make a transfer.
- If we have received incomplete or inaccurate information from you or a third party involving the account or transfer.
- If we have a reasonable basis for believing that unauthorized use of your password or account has occurred, or may be occurring, or if you default under this Agreement, the Deposit Agreement, or any other agreement with us, or if we or you terminate this Agreement.
There may be other exceptions stated in this Agreement and in other agreements with you. Please note that the law limits our liability, and we will only be liable for certain kinds of losses and damages. In no event shall HomeStreet Bank be liable for damages in excess of your actual loss due to our failure to complete a transfer, and we will not be liable for any incidental or consequential damages.
If any of the circumstances listed in subparagraph 2 or 7 above shall occur, we will assist you with reasonable efforts in taking appropriate corrective action to re-process the transactions that may not have been completed, or to correct incorrect transactions that have been processed.
Bill Payer Service
The Bill Payer service permits you to use your Internet-enabled device to direct payments from your designated Online Bill Payer account to third parties. You may designate payments to be made from any account available within online banking, and this account must be a checking account. Money market accounts and savings accounts are not eligible accounts. All payments you make will be deducted from the account that you designate as your payment account for each payment made. We will automatically deduct any fee related to this Service (if applicable) from your Bill Payer account each month. You will be able to access Bill Payer immediately after enrolling in the Bill Payer service.
Through the Bill Payer service, you can pay bills from your account to businesses or individuals, up to a maximum dollar amount of $9,999.99 per payment. All payments must be payable in U.S. dollars to a payee with an address in the United States. The Service reserves the right to restrict the types of payees to whom payments may be made. You may not use the Bill Payer service to make payments for alimony, child support, or other court-ordered payments, or for taxes or other governmental fees. Payments to these payees will be your sole responsibility if delayed or improperly processed or credited.
Payments can only be initiated on business days. If the date you schedule a payment to be initiated falls on a non-business day, the payment will be initiated on the next business day. Funds are withdrawn from your Bill Payer account on the day after your scheduled payment date, or the next business day, as applicable. HomeStreet’s Bill Payer service provider will then make the payment either by transferring funds electronically to the payee, or by mailing the payee a check.
If the online session during which you schedule a bill payment or online transfer ends by 6:00 p.m. Pacific Time, HomeStreet will consider it received on that day. Otherwise, it will be considered received on the following business day. For all entries made using the Service, the time recorded by the HomeStreet Bank Online Banking service will serve as the official transaction time.
When scheduling an initial payment through the Bill Payer service, the transaction date should be at least 10 business days prior to the date your payment is due. The due date is the date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period. Generally, electronic payments are received by the payee within 3 business days and checks may take up to 10 days to be received by the payee. If you do not allow sufficient time for your payment to be received, you will be fully responsible for all late fees, finance charges, or other action taken by the payee. If you schedule your payment and follow all instructions provided, but the payment is not received by the payee in a timely manner, we will work with the payee on your behalf to attempt to have any late fees or charges reversed.
HomeStreet Bank is only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. HomeStreet will not be liable in any way for damages you incur if you do not have sufficient funds in your Bill Payer account to make the payment on the processing date; for delays in mail delivery; for changes to the payee’s address or account number, unless you have made changes to the payee information sufficiently in advance; for the failure of any payee to account for correctly or credit the payment in a timely manner; or for any other circumstances beyond the Bank’s control. Funds must be available in your Bill Payer account on the scheduled payment date. If your Bill Payer account does not have sufficient funds to make a payment as of the date the transfer or payment is attempted or scheduled to be made, your Bill Payer account will be blocked from all future payments until the non-sufficient funds (NSF) payment is resolved. An NSF fee will be charged to your account for each paid and returned payment based on the Schedule of Fees in place at the time of the transaction. The Bank shall have no obligation or liability if it does not complete a transfer or payment because there are insufficient funds in your account to process a transaction.
Consumer and Business customers may elect to receive bills within online banking which is known as Bill Presentment. Within the Bill Payer feature, you may request that third party payees [such as credit card companies, utilities or other service providers] send your account bills to you electronically, which you would access within Online Banking. You may pay these bills electronically via the Bill Payer service or by some other means. Bill Presentment is offered free of charge to all Bill Payer customers.
For questions regarding the Bill Payer service, contact HomeStreet Bank’s Customer Service Center at the numbers listed on the last page of this Agreement.
Canceling or Changing a Scheduled Bill Payment
The best way to cancel or change a scheduled bill payment is to use the Online Bill Payer service. Payments must be changed or canceled online prior to 6:00 p.m. Pacific Time on the business day the transaction is scheduled to be initiated in order to guarantee the payment is canceled in time. There is no charge for payments that you cancel online.
If needed, you may also cancel a bill payment up to three (3) business days before the payment is scheduled to be made by calling, visiting, or writing HomeStreet Bank’s Customer Service Center to request a stop payment be placed on the item. If you call, we may also require you to confirm your stop payment order in writing within 14 days after you call. If you choose to place a stop payment on an item, you will be charged a fee for each stop payment order based on the Schedule of Fees in place at that time.
Funds Transfer Service
Consumer customers may enroll in HomeStreet Bank’s Funds Transfer service through Online Banking. You will be required to accept a Funds Transfer/Funds Transfer Agreement prior to enrolling in the service. Please refer to that agreement for the terms and conditions for using the Funds Transfer Service.
Disclosure of Information to Third Parties
Your personal financial and account information will be held in confidence. However, we will disclose information to third parties about your account or the transfers you make in the following situations:
- When it is necessary to enroll in other online banking services, for example Bill Payer and Funds Transfer.
- When it is necessary to complete transactions requested by you.
- In order to comply with government or court orders, or other orders or documents with which we are legally obligated to comply (for example, a subpoena).
- If you give us your written permission.
For additional information about customer privacy, please read HomeStreet’s privacy policy. This policy can be found on our web site at www.homestreet.com, under "Privacy Policy," or you may request a printed brochure from your branch.
Right to Receive Documentation of Transfers
Pre-authorized Credits: If you have arranged to have a direct deposit made to your account at least once every 60 days from the same person or company, you may verify our receipt of that direct deposit by accessing your account through the Online Banking service, or by contacting HomeStreet Bank’s Customer Service Center at the numbers listed on the last page of this Agreement.
Statements: You will receive a monthly account statement describing any electronic funds transfer (EFT) transactions, including Online Banking transactions, ATM and Point of Sale (POS) transactions.
Right to Stop Payment and Procedure for Doing So
Consumer and business users: You may place a stop payment on a bill payment that you initiated through the online services by contacting HomeStreet Bank at the numbers listed at the end of this Agreement. Your account will be charged a fee for each stop payment order based on the fee schedule in place at that time; the fee will be charged on or around the 10th of the month following the day the stop payment was placed.
Business users: You may place a stop payment on a check previously written be submitting a stop payment request through the online services. Your account will be charged a fee for each stop payment order based on the fee schedule in place at that time.
If you order us to stop a pre-authorized payment three business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages in accordance with applicable law.
Stop payment orders will be in effect for a period of six months. After six months, any stop payment will terminate and must be renewed in order to continue in effect. HomeStreet Bank may pay any item that is presented following the lapse of any stop payment order, and HomeStreet is not obligated to notify you when the stop payment expires.
Right To Cancel ACH Transactions You Initiate And Procedure For Doing So
Business users can submit a request to cancel a previously approved ACH transaction sent to HomeStreet for processing. Submitting a reversal generates an email message to the Bank. This request must be submitted by 2 p.m. on the day the file is to be processed in order to be honored by HomeStreet, and we cannot guarantee that the request will be honored. You will not be able to cancel or change any ACH transaction after 3 p.m. on the date that you scheduled the payment to be made. There is no charge for canceling ACH transactions using the Services.
Inactivity and Termination
HomeStreet Bank may terminate your electronic banking privileges (including the Bill Payer and Funds Transfer service) without notice to you if you do not comply with this Agreement or other agreements governing your accounts. Your Service may also be terminated without notice if your accounts are not maintained in good standing, or if you do not pay any applicable fees required by this and other agreements. We will provide you notice of termination within 10 business days of the termination.
If you do not sign on to HomeStreet’s Online Banking service to access your accounts, or do not schedule a payment through HomeStreet’s Bill Payer service for any consecutive three month period, we reserve the right to cancel your Service(s). We will promptly notify you by email if we cancel your use of the Service(s) for this reason, or for any other reason not mentioned in the previous paragraph.
If you wish to cancel the Online Banking and/or Bill Payer service, you must notify HomeStreet Bank and provide your name, address, the service you are discontinuing and the effective date to stop the service. When Bill Payer or Funds Transfer is terminated, any outstanding bill payments or funds transfers made through Online Banking will also be terminated. Your final charge for the Bill Payer service (if applicable) will be assessed at the end of your statement cycle.
Contacting HomeStreet Bank
If you have questions about your account or about the Services provided, or regarding unauthorized transfers or errors, you may contact your nearest branch or the Customer Service Center at the address and phone number listed below.
If you think there have been unauthorized transactions against your account, please refer to the Unauthorized Transfers and the Errors or Questions sections in this Agreement for specific information regarding your rights and responsibilities.
You may notify us by one of the following methods: - Consumer users: Send an email to onlinebanking@homestreet.com
- Business users: Send an email to: bbankingonline@homestreet.com
- Customer Service Center at 800-719-8080 or 206-389-6309 in the Seattle area between 8:00 a.m. and 6:00 p.m. (PT), Monday through Friday, excluding holidays.
- Write a letter and either send it to the following address or deliver it to a bank employee at any HomeStreet Bank location:
HomeStreet Bank
Customer Service Center
2000 Two Union Square
601 Union Street
Seattle WA 98101-2326
Governing Law
This Agreement is governed by the laws of the state where the branch servicing your account(s) is located, and by applicable federal law.
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