WESTFIELD BANK - Terms and Conditions for Business Online Banking

I/We understand that all account holders have their own User Identification Numbers and Passwords that enable them to use this service. I/We are responsible for the confidentiality and use of our Password. I/We understand that if I am a joint account holder, I may access those accounts where I am listed as the primary account holder. Use of this service signifies agreement to the terms and conditions set forth by Westfield Bank in the Electronic Funds Transfers Statement with the understanding that they may be amended from time to time.

We must have the approval of all account holders in order to process this application. For business, we require the approval of an authorized signer on the account(s).

If you wish to be able to transfer funds between accounts or to make a Westfield Bank loan payment on-line, please complete and sign the Funds Transfer Agreement.

Fund Transfer Agreement

As used herein, "Bank" refers to Westfield Bank and "Customer" means a person receiving authorization to use the telephone/personal computer (PC) and Personal Identification Number ("P.I.N.") as an accepted access device which permits the use of the same to initiate funds transfer transactions through a telephone/PC. By use of the telephone/PC and P.I.N., Customer(s) agree to abide by the following rules and regulations:

1. The Bank has the right to revoke this agreement at any time or without cause or with or without notice. The closeout of an account, identified below, immediately terminates the funds transfer service associated with that account.
2. The Bank is hereby authorized to debit or credit the following accounts, as indicated below, which now stand in the name of Customer and which shall be maintained with sufficient available balances to cover all withdrawals according to transactions selected by Customer through the use of telephone/PC. Overdrafts will be permitted, only with an existing agreement with the Bank to cover overdrafts with a Line-of Credit-Agreement.
3. Bank herewith has provided to Customer all required documentation disclosing rules and regulations as outlined by the Laws of the Commonwealth of Massachusetts or Federal Law when applicable.
4. Customer may choose to limit access by electronic means to one or more of their accounts. The amount and type of transactions which Customer shall be authorized to perform by use of the telephone/PC in any period shall be determined by the Bank from time to time at its discretion.
5. Customer shall establish their P.I.N. the first time they perform a transaction via telephone/PC. Customer shall at all times, (a) safely keep the P.I.N. and not permit any other person to use it, (b) not disclose the P.I.N. or otherwise make it available to any persons, (c) use the P.I.N. as instructed and for purposes authorized by the Bank and not permit any unauthorized use thereof not withstanding any other provisions of these rules and regulations or others disclosed to Customer. If at any time Customer believes their P.I.N. has been compromised, Customer shall change it as soon as possible. If Customer forgets his/her P.I.N., Customer shall notify the Bank immediately and request the P.I.N. be re-established.
6. These rules and regulations supplement all other agreements between Customer and Bank, and rules and regulations with respect thereto, which may govern the Customer's Statement Account, Savings Account, and any other accounts with the Bank.
7. Upon default by Customer in the performance of the obligations contained in this agreement or any other obligations to the Bank or in the event of death, assignment for the benefit of creditors or the commencement by or against Customer of bankruptcy proceedings, the Bank may immediately terminate this Agreement and all sums withdrawn by Customer hereunder shall be deducted from the accounts listed above or if said accounts are insufficient, then from any accounts, deposits or property of Customer in the hands of the Bank.
8. Customer may terminate this Agreement by submitting a request in writing to the Bank. If this agreement is signed by two persons, the Bank reserves the right to delay such termination until notice is given to other person of such termination.
9. This agreement must be signed by ALL holders of the account and the term Customer as used herein shall be deemed to include them both and their liability shall be jointly and several.

THE AUTHORIZED SIGNEES ACKNOWLEDGE RECEIPT OF AN EXACT COPY OF THIS AGREEMENT.