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Your Responsibilities and Liability if Your Online Banking
Access ID and/or Password is Lost or Stolen

This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving a deposit account at the Financial Institution. The following disclosure set for your and our rights and responsibilities concerning the electronic funds transfers. In this Agreement, the words you and your mean the Account owners. We, us and our mean the Financial Institution.

As a corporation, partnership, limited liability company, association or some other from of business entity, we will issue a set of access codes for each person authorized by your company. You represent to us that each company representative and anyone else using your access codes has general authority from your company to give us instructions to perform transactions using our Business online banking service.

Each person using their access codes will have the ability to:
  • Make transfers from qualifying accounts. (A limit may be placed on the maximum dollar amount allowed to transfer in any one business day).
  • Make transfers regardless of whether he/she is otherwise an authorized signer or an obligor on any accounts that are accessed.
  • Obtain information that we make available about qualifying accounts.
  • Obtain other services or perform other transactions that we authorize or allow.
  • Allow anyone else to use those access codes to make transfers or obtain information or other services.


You are liable for all transactions that you make or authorize, even if the person you authorize exceeds your authority. If you or a company representative have given someone your access codes and want to terminate that persons authority, you must notify us that transactions by such a person are no longer authorized. We may have to change your access codes or take additional steps to prevent further access by such person.

Our system supporting our Business Online Banking is accessed only by assigned Access IDs and Passwords. When entry to the system is valid by using the assigned Access ID and Password, we will accept instructions for transfers or other transactions from any person using valid access codes, even if:

  • Person is not a company representative.
  • Transaction exceeds your authority or that granted by any company representative.
  • Person does not have your authority.
  • Person is an imposter or thief.

You agree to be bound by all transactions from any business account for which valid access codes were used. You authorize us to treat any instructions we receive using valid access codes as if the instructions had been made in writing and signed by the appropriate company representative. Unless there is substantial evidence to the contrary, our records will be conclusive regarding any access to, or action taken through our Business Online Banking .

Notwithstanding the foregoing, we agree that you will not be responsible for transactions which occur after you have notified us to terminate the access code and password that was used to perform the transaction, and we have had a reasonable opportunity to do so.

If you believe your Online Banking Access ID and/or Password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call (231) 780-1800 or 1-888-853-6633 or write to the address below.

You agree to promptly examine all account statements and any confirmations of transfers which we or other banks may send or make available to you, and to promptly notify us of any discrepancy or error within 30 days of receipt of any such statement or confirmation.


For purposes of these disclosures, our Online Banking Business days are Monday through Sunday, Holidays are included. Transactions made after 7 pm EST Monday through Friday will be considered the next days business. Transactions posted on Saturday, Sunday or holidays will be considered the next business day.


ACCOUNT ACCESS You may use your Access ID and Password to

  1. Transfer money from checking to checking
  2. Make loan payments
  3. Inquire Balances and Transactions
  4. Place a Stop Payment


There are no limitations unless indicated in your Agreement signed at application.


There are no limitations unless indicated in your Agreement signed at application.


There are no Fees associated with electronic transfers on Online Banking. However, a Stop Payment Fee will be charged to your account for each stop payment placed. The standard DDA Stop Payment fee will be assessed and included in your monthly analysis statement.


If you have placed a stop payment Online, you will receive a written notice and authorization form from us within 2 business days. You will then be required to sign the authorization and return within 10 business days. The address at which your authorization for your stop payment may be mailed or dropped is listed below.


If we do not complete 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. However, there are some exceptions. We will not be liable, for instance:

  1. If through no fault of ours, you do not have enough available money in your account to make any electronic payment/transfer or if your account has been closed or is not in good standing.
  2. If the money in your account is subject to legal process or other claim restricting such electronic payment/transfer.
  3. If the electronic payment/transfer would go over the credit limit on your overdraft line.
  4. If we do not receive enough money to cover any electronic deposit.
  5. If any necessary authorizations for completing transfers have been revoked.
  6. If incomplete or inaccurate information necessary to complete or describe the transfer is forwarded to us by the person or company with whom you arranged for the electronic transfer service.
  7. If the Online Banking system is down and your knew about this when you started the transfer.
  8. If circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken.


All notices from us will be effective when we have mailed them or delivered them to your last known address on our records. Notices from you will be effective when received by us at the telephone number or the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty one (21) days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing your account and any future changes to those regulations.


In the event either party brings a legal action to enforce this Agreement or collect amounts owing as a result of any Account transaction, the prevailing party shall be entitled to reasonable attorney fees and costs, including fees on any appeal, subject to any limits under the applicable law.


We reserve the right to terminate this agreement and to make changes in it at any time. We will comply with the notice requirements under applicable law for termination or changes. If applicable law does not require a notice, we will decide what kind of notice (if any) we will give you and the method of providing such notice. Termination of service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.


There may be a delay between the time a deposit is made and when it will be available for withdrawal. You should review our Funds Availability Policy. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account.

If you feel that we have violated the Michigan Electronic Funds Transfer Act you may notify: Financial Institutions Bureau, Banking Division, Box 30224, Lansing, MI 48909.


If you are performing transactions from a business account, you agree to indemnify us and hold us harmless from and against any and all claims, demands, expenses, including buy not limited to reasonable attorney fees and costs, losses or damages claimed by any third party, including but not limited to any company representatives or other persons authorized to perform transactions, arising out of any transactions or attempted transactions covered by this agreement from a business account or your breach of this agreement.


Call us at (231) 780-1800 or
call toll free 1 (888) 853-6633 or write us at

Community Shores Bank
1030 W. Norton Avenue
Muskegon MI 49441.

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