Bankers Online Hold Harmless Agreement


The attack on Niles Nursing Inc. gives an example of a manual. On Monday, December 17, 2012, computer scammers connected the company`s online bank accounts with the controller`s registration information and tunneled their connection via his hacked PC. At the beginning of the investigation, the criminals added 11 barrels of money to Niles` pay and sent them automated payments of more than $58,000 and asked each mule to withdraw their cash transfers and send the money to individuals in Ukraine and Russia. The credit union in question issues Visa cards to its customers, but the physical cards are manufactured by Fiserv, a Brookfield, Wisc. Financial services companies, which also process online banking portals for a large number of small and medium-sized financial institutions at the federal level. In addition to serving this credit union, Fiserv also prints cards for some of the world`s largest banks, including Bank of America and Chase. Fortunately for the Littles, the FBI managed to freeze the transfer of $180,000 as soon as it reached TD Bank`s account. However, efforts to recover the stolen funds were immediately hampered when the Littles` credit union refused to give Bank of America a so-called “Hold-Schad” agreement, which the largest bank wanted as a legal guarantee before declaring itself ready to help. We will not terminate any accounts, relationships or banking services if you withdraw your consent to electronic disclosures or because you are finished with disclosure. However, if you withdraw your consent, you can no longer open an online account without agreeing to receive electronic disclosures. We can charge you a fee for receiving future information on paper.

In accepting this agreement, you agree that each of the notification methods mentioned above should be considered a “written notification” for all purposes of this Agreement, of any other agreement between us and otherwise under existing legislation. If this service is used to transfer funds from an account to another institution, please refer to that financial institution`s deposit account agreement, as it may impose restrictions on transfers. Faced with the increase in requests for after-sales service from account holders, who had been told that they expected new cards, the credit union decided to take matters into its own hands. We may provide you with information about online and mobile banking or any of your accounts accessible through online and mobile banking, and you can send us similar messages in one or more of the following ways: (1) electronically online on our website when you access the online bank; (2) by sending you a paper note that we send to your address in our statements or to Customers Bank, 99 Bridge Street, Phoenixville, PA 19460; (3) by sending an e-mail message. We may send you emails to your indicated email address or to a modified email address that you later specified.

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