CIBC BANK USA NetBanking Services Agreement
31223NSA
Revised December 2023
General
This CIBC Bank USA NetBanking Services Agreement (“Agreement”) governs your access and
use of CIBC Bank USA NetBanking Services (“NetBanking Services”), including online banking
access, transfer, and payment services. You may use NetBanking Services to access your
accounts held at CIBC Bank USA (“Bank”) and conduct certain other banking transactions at
the Bank. In addition to this Agreement, you agree to be bound by and comply with other
written requirements that we may furnish to you in connection with NetBanking Services and
any other services and content that may be accessed via NetBanking Services including, but
not limited to, your agreements covering your accounts with the Bank (“Account
Agreement(s)”), and with all applicable laws, regulations and rules (“Applicable Law”). If
there is a conflict between the terms of this Agreement and any of your Account Agreements
with the Bank, the terms of your Account Agreement will control, except as otherwise stated
in this Agreement. Please review your Account Agreements, which contain important legal
terms and conditions and disclosures about Electronic Funds Transfers and Funds Availability,
as well as other important matters. All dollar amounts are stated in U.S. Dollars.
In order to use NetBanking Services, you must also agree to the CIBC Bank USA Electronic
Disclosure and Consent Agreement (“Electronic Consent Agreement”), which allows the Bank
to provide certain information electronically and includes software and hardware
requirements necessary in order for you to access the electronic documents. As provided in
the Electronic Consent Agreement, withdrawing your consent to receive communications
electronically terminates this Agreement and your access to NetBanking Services.
Agreement
When you use or access, or permit any other person or entity to use or access, NetBanking
Services, you agree to the terms and conditions in this Agreement.
We may amend or change this Agreement (including applicable fees and service charges) at
any time, in our sole discretion, by sending you written notice by electronic mail, by regular
U.S. mail, or by posting the updated terms on the NetBanking Services web site. Please access
and review this Agreement regularly. If this Agreement is unacceptable to you at any time,
please discontinue your use of NetBanking Services. Your use of NetBanking Services after we
have made any changes or amendments available constitutes your agreement to the change
and to pay any applicable fees.
We may also revise, add new features to, or update NetBanking Services at any time. We
reserve the right to terminate your use of prior versions of NetBanking Services and to limit
access to more recent revisions and updates. We also reserve the right to suspend your use of
NetBanking Services after twelve months of inactivity. If any expanded services are made
available to you via NetBanking Services, you agree that any additional or modified services
are also subject to this Agreement, as it may be amended.
NetBanking Services provide you online access to a variety of content, products and services
through a designated web site and designated mobile devices. We grant you a nonexclusive,
limited, and revocable right to access and use NetBanking Services for your personal purposes
only. You agree not to use NetBanking Services for any other purpose, including commercial
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31223NSA
purposes, such as co-branding, framing, linking, or reselling any portion of NetBanking
Services without our prior written consent. You agree to use NetBanking Services solely as
provided in this Agreement. When any Transfer (defined below), Payment (defined below), or
any other transaction generates Items to be charged to your account, you agree that we may
debit any of your accounts without requiring the signature of an authorized signer for the
account. Additionally, if you transmit Instructions (defined below) to us using NetBanking
Services, you authorize us to accept, at our discretion, your electronic request as though it
was made in writing and signed by you.
Definitions
“Account” and “Accounts” refer to your accounts at the Bank that you designated, and we
approved, for use for certain NetBanking Services. Accounts may include deposit accounts or
credit accounts. Your accounts at the Bank or another financial institution that may or may
not have been designated and approved for use through NetBanking Services are referred to
as “account(s).”
“Business Days” are Monday through Friday, excluding Bank holidays.
“Contact” refers to the person to whom a Zelle® Payment is directed.
“Cutoff Time” means 6:00 pm (Central Standard Time) for external transfers. For internal
transfers, the Cutoff Time means 10:00 pm (Central Standard Time).
“External Account” and “External Accounts” refer to your accounts at another U.S. financial
institution that you designate and we approve for a transfer services through CIBC NetBanking
Services. External Accounts may include deposit or credit accounts.
“Good Standing” means your Account has not been overdrawn more than 6 times in a 6 month
period if you do not have an overdraft line of protection. If you have an overdraft line of
protection, your overdraft line of protection is not at its limit on the day we determine if
your Account is in Good Standing.
“Item” means any transaction posted to your Account, including Checks, in-person
withdrawals or transfers, ATM transactions, credit or debit card transactions, preauthorized
electronic funds transactions, ACH entries, or any other credits or debits to your Account.
“Instructions” means information, including a request or order, you provide to us for
Payments, Transfers, to stop payment on a check, or perform another type of transaction.
You submit Instructions to us when you use NetBanking Services to (i) transmit a request or
order to us to Transfer funds, make a Payment, stop payment on a check, or perform another
type of transaction; and (ii) schedule a Transfer, Payment, or another type of transaction.
“Payee” refers to the person, business or other entity to which a Bill Pay is directed.
“Payment” refers to withdrawing funds from your account and transferring those funds to a
Payee through Bill Pay or to a Contact through Zelle®. Zelle® services are offered only
through our mobile applications.
“NetBanking” or “NetBanking Services” refers to certain services, specified from time to
time, that are accessed via the Site and permitted mobile devices.
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31223NSA
“New Deposit Account” means a deposit account that has not been open for longer than 90
calendar days. This definition is applicable only to external transfers as outlined within this
Agreement.
“Scheduled Payment Date” means the day on which you have instructed the Bank to begin to
initiate a Bill Payment. This date is neither the date that your payment is due to a Payee nor
the date a Payee will necessarily receive the funds.
“Scheduled Transfer Date” means the day on which you have instructed the Bank (via an
Instruction) to begin to initiate a Transfer. This may not necessarily be the same date that
the funds are actually transferred into another of your accounts.
“Site” refers to the Internet website designated by the Bank as the web site through which
you access NetBanking Services.
“Transfer” refers to the internal transfer of funds from one of your accounts held at the Bank
to another of your accounts held at the Bank or the external transfer of funds from one of
your accounts held at the Bank to one of your External Accounts.
The terms “we,” “us” and “Bank” refer to CIBC Bank USA or any affiliate, agent, independent
contractor, or designee that we may use to provide NetBanking Services.
The terms “you” and “your” refer to the user of NetBanking Services, whether singular or
plural, who: (1) is an individual or entity that is the owner of an account or a party-in-interest
of an account at the Bank or (2) is an individual authorized by an account owner or a party-in-
interest to view account information or effect transactions in an account.
Eligibility
To use NetBanking Services, you must have at least one eligible Bank deposit account. We
reserve the right, in our sole discretion, to determine your eligibility to use any NetBanking
Services. Only those accounts designated by you and approved by us, in our sole discretion,
may be accessed through NetBanking Services. We reserve the right to restrict use of
NetBanking Services for one or more types of accounts or transactions, and to impose other
limits or restrictions on use of NetBanking Services. You can only designate accounts for
access through NetBanking Services for which you are an owner or authorized signer. You
cannot use NetBanking Services to make transactions from accounts where more than one
signature is required for withdrawal.
Fees and Charges
There is currently no additional fee or charge for use of NetBanking Services. However, when
you use NetBanking Services to obtain certain products and services, such as to request the
stop payment of a check, you are subject to all fees and charges that apply to those products
and services and to your accounts, as stated in your Account Agreement or other
documentation, including the Fee Schedule for Consumer Accounts, made available to you by
the Bank.
Hardware and Software Requirements
You are responsible for obtaining, installing, maintaining, and operating all software,
hardware, or other equipment (collectively, "Systems") necessary for you to access and use
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NetBanking Services. This responsibility includes, without limitation, your utilizing up-to-date
web browsers and access devices and the best commercially available encryption, antivirus,
anti-spyware, and Internet security software. Additionally, you are responsible for obtaining
Internet services via the Internet service provider of your choice, for any and all fees imposed
by such Internet service provider and any associated communications service provider
charges. You acknowledge that there are certain security, corruption, transmission error, and
access availability risks associated with using open networks such as the Internet and you
hereby expressly assume such risks, including, but not limited to those we may disclose in our
educational materials. You acknowledge that you are responsible for the data security of the
Systems used to access NetBanking Services, and for the transmission and receipt of
information using such Systems. You acknowledge that you have requested NetBanking
Services for your convenience, have made your own independent assessment of the adequacy
of the Internet and Systems and that you are satisfied with that assessment. We are not
responsible for any errors or problems that arise from the malfunction or failure of the
Internet or your Systems, nor are we responsible for notifying you of any upgrades, fixes, or
enhancements to, or for providing technical or other support for, your Systems. Although we
may provide a link to a third party website where you may download software, we make no
endorsement of any specific software, hardware, or Internet Service Provider, and your use of
any such software, hardware, or service may be subject to a license.
You will also need Adobe
®
Reader
®
software version 5.0 or higher in order to read your Online
Documents. To retain a printed copy of your Online Documents, you will need a printer
connected to your computer that is capable of printing from your Internet web browser.
Password and Security
A password (“Password”) and a user ID (“User ID”) are needed to use NetBanking Services as
well as other information (referred to as “Security Information”) that we may specify from
time to time. Your access to NetBanking Services will be denied if you do not enter the
correct User ID, Password, or applicable Security Information.
To prevent unauthorized access to your accounts and to prevent unauthorized use of
NetBanking Services, you agree to: (a) protect and keep confidential your User ID, Password,
Security Information, and any other information or items needed to access NetBanking
Services and not share any such information or items with any third party; and (b)
immediately notify us if you have reason to believe your Password, User ID, Security
Information, or any other information or items that may allow access to NetBanking Services
has been lost, stolen, or otherwise compromised, or if you have reason to suspect that
unauthorized access to your accounts has occurred or will occur through NetBanking Services.
To the extent permitted by law, you assume all liability for use of your User ID, Password,
and Security Information.
Additionally, business clients are solely responsible for changing User IDs, Passwords, and
Security Information upon termination of an employee’s employment.
Text Messages and Alerts
CIBC BANK USA NetBanking Services Agreement
31223NSA
You may request and receive text (SMS) messages about your accounts through a mobile
device ("Text Messages") in connection with NetBanking Services. (Text Messages are only
available for U.S.-based mobile telephone numbers.) By entering a telephone number for your
mobile device when enrolling in online services through NetBanking Services, including in the
Manage Alerts functionality within the NetBanking Services web site, authentication for login
and other services, and other text messaging services, you are requesting text messaging
services (“Text Messaging Services”) and agree to the following terms of use:
1. Mobile Device Numbers. You must enroll each mobile device separately in our Text
Messaging Services to receive Text Messages on that mobile device. Permitted mobile
devices (“Mobile Devices”) include smartphones, cell phones, or tablet computers that
meet the requirements established by the Bank. Text Messages will be sent to the
number for the Mobile Device that you provided to the Bank when you enrolled in the
Text Messaging Services. You are responsible for informing the Bank of any changes to
your Mobile Device number, which can be done in writing or by updating the number
of your Mobile Device directly through NetBanking Services.
2. Wireless Carrier Charges. Your wireless carrier’s standard messaging rates apply to all
Text Messages, including your initial message, our confirmation, and all subsequent
Text Messages correspondence. The Bank does not charge for any content; however,
you may incur additional charges from your wireless carrier for downloadable content.
Please contact your wireless carrier for information about your text messaging plan
and fees. Those charges are billed by, and payable to, your wireless carrier. Your
carrier may also impose message or charge limitations on your account.
3. Authorized Use. You represent that you are the owner or authorized user of the Mobile
Device you use to enroll in the Text Messaging Services and to receive the Text
Messages and that you are authorized to approve the applicable charges.
4. Text Messaging Security. Text Messages are not encrypted and are not a secure form of
electronic communication. Text Messages may include specific information pertaining
to your account, such as your account balance and transaction information. Your
complete account number is not included in Text Messages to help protect your
security. Please do not transmit account numbers or other sensitive information in
Text Messages to us.
5. Text Messaging Delivery and Limitations. Your receipt of any Text Message may be
delayed or prevented by factors outside of our control such as communication issues
with your wireless telephone carrier or Internet service provider. We do not guarantee
the delivery or the accuracy of the contents of any Text Message. The information in a
Text Message may no longer be accurate when you receive it if there is other activity
on your account or a delay in sending or receiving the Text Message. We are not liable
for any losses or damages arising from (a) failed, delayed, or wrong delivery of any
Text Message; (b) inaccurate content in a Text Message; or (c) your use or reliance on
the contents of any Text Message. Text Messaging Services are provided on an “AS IS,
AS AVAILABLE” basis.
6. Text Messaging Data. Data obtained from you in connection with the Text Messaging
Services may include your mobile telephone number, your carrier’s name, and the
date, time and content of your Text Messages and other information that you may
provide. We may use this information to contact you and to provide the services you
request from us, and to otherwise operate, develop and improve the service. Your
wireless carrier and other service providers may also collect data from your Text
Messages usage, and their practices are governed by their own policies. We will only
use the information you provide to transmit your Text Message or as otherwise
CIBC BANK USA NetBanking Services Agreement
31223NSA
described in this Agreement. We reserve the right at any time to disclose any
information as necessary to satisfy any law, regulation, or governmental request, to
avoid liability, to protect our rights or property, or as permitted by law. When you
complete forms online or otherwise provide information to us in connection with the
Text Messaging Services, you agree to provide accurate and complete information.
7. Proprietary Service. Text Messaging Services and the content and materials received
through the Text Messaging Services are proprietary to us and our licensors, and are
for your personal, non-commercial use only. You will not damage, impair, interfere
with or disrupt the Text Messaging Services or its functionality.
8. Changes and Termination. We reserve the right to revise charges and the terms and
conditions of the Text Messaging Services from time to time. We may suspend or
terminate Text Messaging Services to you if we believe you are in breach of our terms
and conditions or at any time upon notice to you. Your use of the Text Messaging
Services is also subject to termination if your wireless service terminates or lapses. We
may discontinue your use of Text Messaging Services at any time. You can unsubscribe
from the Text Messaging Services at any time by logging into NetBanking Services and
going to Manage Alerts or by replying STOP to the text message. If you opt out of Text
Messaging Services, alerts will be sent to your designated email address instead.
Available Services
You must meet certain eligibility requirements to use each of the NetBanking Services. The
following is a list of NetBanking Services that are currently available:
Account Access Services
View “real-time” account balances and account information for your accounts;
Review transaction history on your deposit and credit accounts;
View electronic statements;
Initiate a request to stop payment of a check;
Order checks for your applicable deposit accounts;
Elect to receive e-Statements;
View check images; and
Change your contact information.
Transfer Services
Transfer funds between your Accounts;
Transfer funds to or from your Account(s) and External Account(s);
Schedule future or recurring Transfers; and
Modify or cancel Transfers.
Bill Pay Services
Initiate Payments to a Payee in the United States using funds from your deposit
accounts;
Schedule future or recurring Payments; and
Modify or cancel Payments.
Zelle
®
Services available via our mobile applications
Initiate Payments to Contacts using funds in your deposit account
Zelle
®
Services are only available through the Bank’s mobile applications
CIBC BANK USA NetBanking Services Agreement
31223NSA
Zelle
®
Services are only available for consumer accounts
The following provisions apply to use of NetBanking Services:
Account Access Services
Account information provided to you as part of the NetBanking Services is not the official
record of your account or its activity. Your account statements furnished to you in paper
format, or electronically if you are enrolled in our e-Statement service, remain the official
record of your accounts.
Unless otherwise indicated, the balance information displayed through NetBanking Services is
the current available funds balance for your account. Transaction history that you obtain
through NetBanking Services is current as of the close of business on the preceding Business
Day although some Items may be reflected in your transaction history on a “real-time” basis.
Except as otherwise provided in this Agreement, the provisions of your applicable Account
Agreement apply to your use of the NetBanking Services to stop payment of a check.
Instructions to stop payment of checks must be initiated prior to 8:00 pm (Central Standard
Time) on the Business Day you wish to have the payment of that check stopped. Instructions
to stop payment of a check initiated after 8:00 pm (Central Standard Time) will typically be
processed on the next Business Day.
It is possible that a check presented to the Bank for payment may be honored by the Bank
even though you submitted Instructions earlier on that Business Day to the Bank through
NetBanking Services to stop payment on a check. If you need to stop payment of a check on a
timelier basis, please call 877-448-6500.
While we anticipate that most stop payments of checks will be processed in accordance with
the time frames stated above, some stop payment requests may take longer to process due to
circumstances beyond our control and in accordance with the provisions of this Agreement.
We are not liable for the failure to stop payment of a check except as expressly provided in
this Agreement or as otherwise required by law.
You may use personal financial management software (“PFMS”), such as Microsoft® Money,
Quicken® or Quickbooks® to access account information, such as balance and transaction
history through NetBanking Services. You agree not to use PFMS to perform transactions in
connection with NetBanking Services. PFMS may only be used to download information from
your accounts through NetBanking Services. Without limiting any other provisions in this
Agreement, you agree that we have no liability or obligation related to your use of any PFMS
and your use of PFMS is solely at your own risk. We make no representations regarding any
PFMS. We do not grant any rights, licenses or permissions to use any PFMS. All rights, licenses
or permissions to use PFMS must be obtained from the respective third party. Use of PFMS to
perform transactions and connect directly to your accounts is governed by a separate
agreement.
Transfer Services
CIBC BANK USA NetBanking Services Agreement
31223NSA
You can use the Transfer Services to transmit Instructions to the Bank to transfer funds
between your CIBC Bank USA Accounts that have common owners. You can also use the
Transfer Services to transmit Instructions to the Bank to transfer funds from your accounts to
External Accounts at U.S. banks.
For New Deposit Accounts, credits received from Automated Clearing House (ACH) debit
transactions will be available on the eleventh Business Day after the date of deposit. For
example, if you conduct an ACH debit transfer, the funds that are transferred from another
financial institution to your Account at CIBC Bank USA will not be available until the eleventh
Business Day after the date of deposit. When your Account is no longer considered a New
Deposit Account, provided the Account is in Good Standing, the 10 Business Day hold on funds
credited due to ACH debits will no longer apply and credits received from ACH debit
transactions will be available on the third Business Day after the date of deposit.
Transfers may not be made to a business account from a personal account or to a personal
account from a business account. The Bank may grant an exception to this rule for sole
proprietorships, but prior approval from us must be obtained. To obtain this approval, please
call 877-448-6500 or contact your relationship manager. Both the accounts that funds are
transferred from, and accounts that funds are transferred to, must be eligible accounts. If
your account was opened online, transfers from your account to an External Account are not
permitted until after your account has been open for 30 days (this restriction does not apply
to the CIBC Bank USA Smart Account). You are limited to designating a maximum of 20
External Accounts within NetBanking.
Transfers may be “immediate” (requested to occur on the same day Transfer Instructions are
initiated) or “scheduled” (to occur on a future date) on a one-time or recurring basis. By
initiating an immediate Transfer or by scheduling a Transfer, you are instructing us to
withdraw funds from your account on a requested date and to transfer those funds to another
of your accounts or External Accounts in accordance with your Instructions. Recurring
Transfers are those made for the same dollar amount on the same date each month.
Recurring Transfers cannot be scheduled more than 365 days in advance, unless the first
scheduled Transfer is due within 365 days from the date it was originally scheduled. Transfers
can be made from a demand deposit, money market, savings, or credit account. By providing
the Bank with information pertaining to Transfers, you authorize us to follow the Instructions
that we receive from you and to rely on the accuracy of all information that you provide us. It
is your responsibility to update the information related to Transfers if there are any changes.
All Transfers are subject to the terms and conditions of any applicable Account Agreement,
including any applicable deposit account or credit agreement and the error resolution
provisions within those agreements. Transfers to External Accounts may also be subject to any
terms and conditions of the financial institution at which the External Accounts are held.
Immediate Transfers are typically processed on the same Business Day the Transfer
Instructions are initiated, provided Instructions are sent prior to the Cutoff Time. Scheduled
Transfers that are scheduled at least one day in advance of the Scheduled Transfer Date are
typically processed on the same Business Day as the Scheduled Transfer Date. However, you
understand that due to circumstances beyond our control and in accordance with the
provisions of this Agreement, there may be a delay in the completion of the transaction.
Transfers to an External Account are generally completed within 1-3 Business Days but may
take longer in some circumstances. Transfers may be processed after the dates provided in
this paragraph. We are not liable for any late Transfers except as expressly provided in this
Agreement.
CIBC BANK USA NetBanking Services Agreement
31223NSA
Bill Pay Services
You can use the Bill Pay Services to initiate a Payment to a Payee in the United States using
funds from your deposit account. You may not use the Bill Pay Services to initiate tax-related
payments, court-related payments, payments to Payees outside of the United States, or fines,
gambling debts, or any other payments prohibited by law.
Bill Pay Payments can be scheduled on a one-time or recurring basis. By scheduling a Bill Pay
Payment, you are instructing us to withdraw funds from your account on the Scheduled
Payment Date to make a Bill Pay Payment in accordance with your Instructions. Recurring
Payments are Bill Pay Payments made for the same dollar amount on the same date each
month. Recurring Payments cannot be scheduled more than 365 days in advance, unless the
first scheduled Payment is due within 365 days from the date it was originally scheduled. Bill
Pay Payments can only be made from a demand deposit account or a money market account.
If you use more than one account to make Bill Pay Payments, you must designate the account
from which the Payment is to be made each time you schedule a Bill Pay Payment.
It remains at our sole discretion to determine the appropriate method for processing Bill Pay
Payments to Payees; we may choose to make Bill Pay Payments electronically or by check.
You must select a Scheduled Payment Date and transmit your Bill Pay Payment Instructions to
us at least five Business Days in advance of your Payment due date to help ensure the Bill Pay
Payment is received by the Payee in a timely manner. While it is anticipated that most
transactions will be processed and completed on the next Business Day after the Bill Pay
Payment is scheduled to be made, you understand that due to circumstances beyond our
control, including, but not limited to, delays in handling and posting payments by slow
responding Payees or financial institutions, some transactions may take a day or even a few
days longer to be credited to you by your Payee.
Zelle
®
services are available only through our mobile applications. Please refer to the
CIBC Bank USA Mobile Banking End User Terms Agreement for the terms and conditions
applicable to your use of Zelle
®
services.
Payments to Payees and Contacts
By providing the Bank with the names, account, and contact information of people or
businesses to which you wish to make Payments (Payees and Contacts), you authorize us to
follow the instructions that we receive from you and to rely on the accuracy of all
information that you provide us. It is your responsibility to update the Payee, Contact, and
other contact and account information, if there are any changes.
ACH Transfers and Payments
All ACH transfers will be made pursuant to Applicable Law, the terms of this Agreement and
the rules of the National Automated Clearing House Association ("NACHA") and the applicable
automated clearing house (collectively, the "Rules"). You agree to be bound by these Rules, as
they may be modified. In accordance with the Rules, any credit to an account is provisional
until the credit has been finally settled by the Bank or other institution. If we do not receive
final settlement for a Payment for any reason, we will charge back the amount of the
Payment to the Account or any other of your accounts.
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Disclosure of Account Information to Third Parties
We may disclose information to third parties about your Accounts, Payments, and Transfers
you make:
1. As necessary to complete transactions;
2. In connection with the investigation of any claim you initiate;
3. To comply with government agency or court orders;
4. In accordance with your written permission; or
5. As otherwise permitted by the terms of our Privacy Notice.
Our Privacy Notice, which includes our information sharing practices, was provided to you
when you opened your Account. You authorize us to obtain additional information from a
Payee, Contact, financial institution, or other third party to resolve Payment or Transfer
problems or to complete a Payment or Transfer.
Limitations on Transfers and Payments
Transfer Limits
All Accounts (except CIBC Agility Savings and Premier Money Market)
The maximum dollar amount of any Transfer to an account at the Bank is $9,999,999.99.
Transfers to and from External Accounts (except for CIBC Agility Savings and Premier Money
Market) are limited to 10 transfers or $10,000.00 per day, and a maximum of $25,000.00 per
month per NetBanking Services user regardless of the number of accounts from which the
transfers are made.
For CIBC Agility Savings and Premier Money Market
Transfers to and from External Accounts are limited to 10 transfers or $125,000.00 per day,
and a maximum of $250,000.00 per month per NetBanking Services user. If you have a CIBC
Agility Savings Account or Premier Money Market and other CIBC Bank USA Accounts, the CIBC
Agility Savings or Premier Money Market limits will apply.
Payment Limits
Bill Pay Payments
The maximum Bill Pay Payment is $10,000.00 per payment up to a total of $25,000.00 per day
per NetBanking Services user.
Zelle
®
Payments
There are daily limits to the dollar amounts of transactions that may be made using Zelle
®
.
Please refer to the CIBC Bank USA Zelle
®
Network Standard Terms within the CIBC Bank USA
Mobile Banking End User Terms Agreement (“Mobile Banking Agreement”) for more
information regarding these limits. A copy of the most recent version of the Mobile Banking
Agreement can be found within the Bank’s mobile applications.
All Accounts
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For security reasons, we may delay, suspend, or impose additional limits on the dollar amount
of Payments or Transfers from your account in our sole discretion, without prior notice to
you.
Limitations on the Frequency of Transactions on Money Market and Savings Accounts
Any Transfer or Payment made from any of your money market and savings accounts by using
NetBanking Services is a restricted transfer subject to certain limitations. Please refer to your
Account Agreement for more information.
Stopping, Modifying or Canceling Payments and Transfers
When Using the Transfer Service
You may modify or cancel future-dated scheduled or recurring Transfers prior to the Cutoff
Time on the Business Day before the Scheduled Transfer Date through use of NetBanking
Services or by contacting NetBanking Services Client Support Center at 877-448-6500.
Immediate Transfers cannot be canceled after you send the Transfer Instructions to the Bank
via NetBanking Services.
When Using the Bill Pay Service
You may modify or cancel any future-dated scheduled or recurring Bill Pay Payments prior to
the Cutoff Time on the Business Day before the Scheduled Payment Date through use of
NetBanking Services or by contacting NetBanking Services Client Support Center at 877-448-
6500.
When Using the Zelle
®
services via the mobile applications
In general, you may not cancel a Zelle
®
Payment once it has been sent. Please refer to the
CIBC Bank USA Zelle
®
Network Standard Terms within the Mobile Banking Agreement for more
information regarding these limits. A copy of the most recent version of the Mobile Banking
Agreement can be found within the Bank’s mobile applications.
Processing Times
There is a time lag between the time you initiate a transaction through NetBanking Services
and the time the Bank executes the transaction. The length of the time lag varies and
depends on a number of factors, including the type of transaction, volume of requests, and
the time they are received.
The Cutoff Times and other specific times referred to in this Agreement reflect the times
displayed on our internal system clocks and may not necessarily be synchronized with the
internal clock displayed on your computer. For this reason, we suggest that you transmit any
Instructions to us sufficiently in advance of the applicable Cutoff Time or other specified
times to eliminate the possibility of missing the Cutoff Time. Instructions received after the
Cutoff Time or on non-Business Days will be considered received on the next Business Day.
Transfer and Payment Processing
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Transfers or Payments may not be made if there are not sufficient available funds in your
deposit account or sufficient available credit on a line of credit account on the date the Bank
begins to process the transaction. Partial Transfers or Payments will not be made. If the
entire dollar amount of your Transfer or Payment request is not available on the date the
Bank begins to process the transaction, no portion of the Transfer or Payment may be
completed. You agree to have sufficient funds or available credit in your account to cover
each Payment you schedule from the time the Payment will be debited from your account
until it is completed or cancelled. The amount of each Transfer or Payment will be debited
from your account at the time the Transfer or Payment is initiated, except for Zelle
®
service
Payments where the recipient is not yet enrolled in Zelle. Please refer to the CIBC Bank USA
Zelle
®
Network Standard Terms within the Mobile Banking Agreement for more information
regarding these limits. A copy of the most recent version of the Mobile Banking Agreement
can be found within the Bank’s mobile applications. The amount of funds available will be
determined in accordance with the applicable Account Agreement governing the Account. See
Transfer Services section for information on availability of funds resulting from ACH debits.
Incomplete Transfers or Payments
We reserve the right to delay or refuse to complete a Transfer or Payment for any reason,
including where there are not sufficient available funds or available credit in your account to
cover the transaction or we, in good faith, believe the Transfer or Payment may be
fraudulent, erroneous, illegal, in violation of this Agreement, or suspicious.
Returned Items and Overdrafts
We have no obligation to pay any Item unless you have sufficient funds available in your
Account to pay the Item when it is presented. If there are insufficient funds in your Account
to pay the Item (excluding card transactions), we may, at our discretion, pay the Item,
resulting in an overdraft in your Account, or return the Item for non-sufficient funds.
If an Item is presented for payment and returned due to non-sufficient funds (NSF), it may be
returned a second time if that same Item is presented for payment again and you do not have
the available balance to cover the Item.
We encourage you to keep your Account in Good Standing. Detailed record keeping of your
transactions will help you avoid initiating ATM or point of sale (POS) transactions, writing
checks, or authorizing other debits to your Account without sufficient funds. If your Account
is not maintained in Good Standing, we may close your Account.
Your Liability
In general, when you transmit Instructions to us to make a Payment or Transfer through
NetBanking Services with your User ID and Password and applicable Security Information, you
authorize us to credit or charge your account for the amount described in the Instructions.
Unauthorized Transactions — For Consumer Deposit Accounts Only
This section applies to consumer deposit accounts only. For credit accounts, refer to your
applicable credit agreement for terms and conditions regarding your liability for unauthorized
transactions or other errors or questions regarding those accounts. For business accounts, see
the “Unauthorized Transactions – For Business Deposit Accounts Only” section below.
CIBC BANK USA NetBanking Services Agreement
31223NSA
If you have reason to believe that your User ID, Password, Security Information, or any other
items or information that may allow access to NetBanking Services have been lost, stolen, or
otherwise compromised, or if you have reason to suspect that unauthorized access to your
account has occurred or will occur through NetBanking Services, you must call us immediately
at 877-448-6500.
If you tell us within two Business Days after you learn your User ID, Password, Security
Information, or any other information or items that may allow access to NetBanking Services
have been lost, stolen, or otherwise compromised, or that an unauthorized online transfer or
payment has been made from any of your accounts, you can lose no more than $50.00 if
someone used your account without your permission. If you do not notify us, you could lose all
the money in each of your accounts, as well as all of the available funds in any overdraft
protection account or any credit line included among your accounts.
If you do not tell us within two (2) Business Days after you learn of the loss, theft, or
compromise or unauthorized transfer or payment, and we can prove we could have stopped
someone from making an unauthorized transfer or payment using your account if you had
reported the loss, theft, or compromise or unauthorized transfer or payment, you could lose
as much as $500.00. Furthermore, if any deposit Account Statement shows online transfers or
payments that you do not believe you made, tell us AT ONCE. If you do not tell us within sixty
(60) days after the FIRST statement showing the unauthorized transfer or payment was mailed
to you, we may not reimburse any money you lost after the sixty (60) days if we can prove
that we could have stopped someone from taking the money if you had told us within the
time frame.
Your obligations and liability in this “Unauthorized Transactions – For Consumer Deposit
Accounts Only” section survive termination of this Agreement.
Please refer to the CIBC Bank USA Zelle
®
Network Standard Terms within the Mobile
Banking Agreement for more information regarding your liability when using Zelle
®
Services. A copy of the most recent version of the Mobile Banking Agreement can be
found within the Bank’s mobile applications.
Unauthorized Transactions — For Business Deposit Accounts Only
This section applies to business deposit accounts only. Liability for unauthorized transactions
regarding credit accounts is governed by the terms of your applicable credit agreements.
Please refer to those documents for liability information.
If you have reason to believe that your User ID, Password, Security Information, or any other
items or information that may allow access to NetBanking Services have been lost, stolen, or
otherwise compromised, or if you have reason to suspect that unauthorized access to your
account has occurred or will occur through NetBanking Services, you must call us immediately
at 877-448-6500.
You are responsible for all Transfers and Payments that are authorized using your User ID,
Password, or Security Information. If you permit others to access NetBanking Services using
your Password, User ID, or Security Information, you are responsible for any transactions they
authorize. Account access through NetBanking Services is separate and distinct from your
existing signature arrangements for your accounts. Therefore, when you give an individual the
authority to access accounts through NetBanking Services, that individual may have access to
CIBC BANK USA NetBanking Services Agreement
31223NSA
one or more accounts to which that individual would not otherwise have signature access. You
assume the entire risk for the fraudulent, unauthorized, or otherwise improper use of your
Password, User ID, or Security Information. We are entitled to rely on the genuineness and
authority of all Instructions received by us when accompanied by your Password, User ID, or
Security Information, and to act on those Instructions.
We will have no liability to you for any errors or losses you sustain in using NetBanking
Services except where we fail to exercise ordinary care in processing a transaction. Our
liability is limited to the amount of any funds improperly transferred from your account less
any amount, which, even with the exercise of ordinary care, would have been lost.
Failure to report to us any unauthorized Transfer, Payment, or error on your account within
sixty (60) days of our providing or making available to you the FIRST bank statement showing
such unauthorized transaction or error relieves us of any liability for any losses sustained
after the sixty day period. You are precluded from asserting any claim or error against us
after that time period.
Your obligations and liability as provided in this “Unauthorized Transactions – For Business
Deposit Accounts Only,” survive termination of this Agreement.
Errors or Questions — For Consumer Deposit Accounts Only
This section applies to consumer deposit accounts only. For credit accounts, refer to your
applicable credit agreement for terms and conditions regarding your liability for unauthorized
transactions or other errors or questions regarding those accounts. For business accounts, see
the “Errors or Questions – For Business Deposit Accounts Only” section below.
If you think an electronic transaction shown on your statement or transaction record is in
error, please notify us at once by contacting our Client Support Center at 877-448-6500, and
providing us with your name, account number, dollar amount of the suspected error, and a
description of the error or the transaction you are unsure about. Please be sure to explain, as
clearly as you can, why you believe it is an error or why you need more information. We must
hear from you no later than sixty (60) days after we sent you the first statement on which the
problem or error appeared. If you tell us in person or by phone, we may require you to
provide a written complaint to us, which must be delivered to us within ten (10) Business Days
of your original notification to the Bank.
We will tell you the results of our investigation within ten (10) Business Days after we hear
from you, and will correct any error promptly. If we need more time, we may take up to
forty-five (45) days to investigate your complaint or question. If we decide to do this, we will
provisionally credit your account within ten (10) Business Days for the amount you think is in
error, so that you will have the use of the money during the time it takes us to complete our
investigation. This is referred to as a “provisional credit.” If we ask you to put your complaint
or question in writing, and we do not receive your written complaint within ten (10) Business
Days, we may not provisionally credit your account that was the subject of your complaint.
For new accounts, the Bank’s investigative period may be as long as twenty (20) Business Days
during the first thirty (30) days the account has been opened.
We will tell you the results within three (3) Business Days after completing our investigation.
If we determine that there was no error, we will send you a written explanation within three
(3) Business Days after we finish our investigation and we will debit your account for any
CIBC BANK USA NetBanking Services Agreement
31223NSA
amount that we provisionally credited. You may ask for copies of the documents that we used
in our investigation.
Errors or Questions —For Business Deposit Accounts Only
This section applies to business deposit accounts only. For errors or questions regarding your
credit accounts, refer to your applicable credit agreements.
In the case of errors or questions about your Transfers or Payments, if you think your
statement is incorrect, or you need more information about a Transfer or Payment listed on
the statement, you should contact us as soon as possible by calling 877-448-6500. We must
hear from you no later than sixty (60) days after we sent or otherwise made available to you
the first statement on which the problem or error appeared. Failure to notify us precludes
you from being able to assert a claim based on the problem or error. We will investigate any
errors reported to us and advise you of the results of our investigation.
Indemnity
You acknowledge and agree that you are personally responsible for your conduct while using
the NetBanking Services and agree to indemnify and hold us and our officers, directors,
employees and agents harmless from and against any loss, damage, liability, cost or expense
of any kind (including, but not limited to, reasonable attorneys’ fees) that we may incur in
connection with a third party claim or otherwise, regarding: (i) your use of NetBanking
Services; (ii) the use of NetBanking Services by anyone using your User ID, Password, or
Security Information as permitted by Applicable Law; (iii) your violation of this Agreement or
any Applicable Law or regulation; or (iv) your violation of or infringement on rights of any
third party (including, but not limited to, privacy rights). Additionally, you agree to
indemnify, defend and hold us harmless from and against any and all claims, losses, liability,
cost and expenses (including reasonable attorneys' fees) arising from a telephone number,
email address, or other delivery location that you provide that is not your own or your
violation of applicable federal, U.S. state or local law, regulation or ordinance. Your
obligations under this paragraph will survive termination of this Agreement.
Risk of Loss
In the event of a system failure or interruption, your data may be lost or destroyed. Any
transaction that you transmitted, were in the process of completing, or completed shortly
before a system failure or interruption should be verified by you through means other than
through NetBanking Services to ensure the accuracy and completeness of the transaction. You
assume the risk of loss of your data during any system failure or interruption and the
responsibility to verify the accuracy and completeness of any affected transactions.
Our Liability
NetBanking Services Bill Pay Guarantee for Consumer Deposit Accounts
Only
The following limited guarantee applies ONLY to Bill Pay Payments that are made from
consumer deposit Accounts.
CIBC BANK USA NetBanking Services Agreement
31223NSA
We will use reasonable efforts to make your Bill Pay Payments properly. If you follow the
terms and conditions described in this Agreement, your account Agreements, and other
instructions provided to you (including, but not limited to, initiating your Bill Pay Payment at
least five (5) Business Days in advance of the due date), and we fail to process a Bill Pay
Payment on the Scheduled Payment Date, we will bear responsibility for the late charges or
penalties that you incur from the third party to whom payment was due, up to a maximum of
two hundred dollars ($200.00). We will not be liable for any Bill Pay Payment, including any
late charges or penalties, if you do not comply with the terms and conditions of this
Agreement, your Account Agreements, and other instructions provided by us to you, or if you
enter into any agreement or activity with a purpose of generating late payment fees.
Our Liability for Making Payments or Transfers
We have no obligation to make Payments or Transfers, and incur no liability or obligation for
late charges or penalties, except as provided in this Agreement or required by Applicable
Law, if we are unable to complete any Payments or Transfers that you initiate using
NetBanking Services due to circumstances, including, but not limited to:
1. Your account is closed, does not contain sufficient available funds to complete the
Payment or Transfer, is subject to legal process or otherwise encumbered, or the
Payment or Transfer would exceed the credit limit of your overdraft account;
2. NetBanking Services are not working properly, are unavailable, or have been
interrupted;
3. Your equipment, software, or communications connection is not working properly;
4. The Payee mishandles or delays a Payment sent by us, a Contact does not accept a
Payment, delays in claiming a Payment, or mishandles a Payment, or provides
incorrect information, or the Payment is delayed or mishandled by the United States
mail;
5. You do not provide us with the correct names, telephone number, account information
or any other information necessary to effect a Payment or Transfer, or you otherwise
fail to comply with applicable requirements;
6. Circumstances beyond our control (such as, but not limited to, fire, flood, or
interferences from an outside force, strikes, lockouts, acts of governmental
authorities, couriers or supplies delays, communications equipment failures, service
interruptions on the Internet or through your Internet service provider, or equipment
malfunctions that occur despite ordinary maintenance) that prevent the proper
execution of the transaction;
7. This Agreement has been terminated;
8. Applicable Law prevents the completion of the Payment or Transfer;
9. We believe in good faith that the Payment or Transfer may be unauthorized, in error,
fraudulent, illegal, in violation of this Agreement, in contravention of economic
sanctions programs, or otherwise suspicious; or
10. Unusual or extraordinary circumstances that indicate improper or unlawful use of your
account.
The above list contains examples of circumstances when we would not be liable for failing to
make a Transfer or Payment and is not intended to be a complete list.
Provided none of the circumstances stated above are applicable, if we cause an incorrect
amount of funds to be removed from your account or cause funds from your account to be
directed to the incorrect Payee or Contact, and this action was solely due to a bona fide error
CIBC BANK USA NetBanking Services Agreement
31223NSA
on our part, we shall be responsible for returning the improperly transferred funds to your
account and for directing any previously misdirected Payments to the correct Payee or
Contact. We will not be liable for any Payment, including any late charges or penalties, if you
do not comply with the terms and conditions of this Agreement, your Account Agreements,
and other instructions provided to you, or if you enter into any agreement where the purpose
is to generate late payment fees. The Bank is not responsible for any failure of another
financial institution to act in a timely manner. The Bank cannot guarantee the timely delivery
or return of funds due the failure of another institution to act in a timely manner.
Notwithstanding anything in this Agreement to the contrary, we make no guarantee or
representation that NetBanking Services will be uninterrupted or error-free. Our sole
obligation to you, arising out of non-availability, interruption, or delay in providing the
NetBanking Services, is to use commercially reasonable efforts to resume NetBanking
Services.
The provisions in this “Our Liability for Making Payments or Transfers” section survive
termination of this Agreement.
Entire Liability
The provisions contained in the preceding paragraphs under the heading “our liability”
constitute our entire liability to you and your exclusive remedy to the extent allowed by
Applicable Law. In no event will we, or any of our agents or subcontractors, be liable for any
direct, indirect, special, incidental, consequential, punitive or exemplary damages, including
lost profits (even if we are advised of the possibility) related to NetBanking services or any
systems, software or equipment, including, but not limited to, any related installation,
maintenance, configuration or compatibility issues; mechanical or electronic equipment,
including, but not limited to, the internet and communication lines; access to and use of
NetBanking services; your systems; and failure or unavailability of internet access, problems
with internet service providers, problems or delays with communications networks. The bank
is not liable for any damages or loss that may be caused to any system, equipment, or
software due to any malicious code, viruses, defects or malfunctions, including, but not
limited to, any loss of information. You agree that your use of the services is at your sole
risk.
The provisions in the “Entire Liability” section shall survive termination of this Agreement.
Exclusion of Warranties
NetBanking services are provided on an “as is,” “where is” and “where available” basis, and
are subject to change at any time without notice to you. To the fullest extent permitted by
law, we disclaim all representations, warranties and conditions of any kind, either expressed
or implied, including, but not limited to, implied warranties of merchantability and fitness for
a particular purpose, title and non-infringement of proprietary rights as to NetBanking
services, related documentation, and all information included in or accessible from the site.
You acknowledge that we make no warranty that NetBanking services will be uninterrupted,
timely, secure or error-free.
The provisions of this “Exclusion of Warranties” section survive termination of this
Agreement.
CIBC BANK USA NetBanking Services Agreement
31223NSA
Notices and Email
You agree that you will not send any confidential information to us via email. You agree that
by using NetBanking Services, all notices or other communications which we may be required
to give you arising from our obligations under this Agreement or NetBanking may be sent to
you via regular mail or electronically in accordance with the Electronic Disclosure Consent
Agreement, which you must agree to in order to use NetBanking Services.
Address Changes
You agree to notify us promptly, in writing, of any change of address at:
CIBC Bank USA
6825 West 111th Street
Worth, Illinois 60482
Attention: Client Support Center
Agreement Termination
This Agreement shall remain in effect until you or the Bank terminates it. We may terminate
or suspend this Agreement for any reason at any time without prior notice. You agree that we
may, at our sole discretion, limit, suspend, discontinue, or change the NetBanking Services, in
whole or in part, at any time. You will be notified of any changes if we are legally required to
do so. The termination of this Agreement will not terminate your account relationship or
other agreements you have with us, unless those agreements are terminated separately. You
may terminate this Agreement at any time by following the procedure described below.
By terminating this Agreement, your ability to use NetBanking Services will be discontinued. If
you wish to terminate this Agreement, you must send us a signed written request by United
States mail to:
CIBC Bank USA
6825 West 111th Street
Worth, Illinois 60482
Attention: Client Support Center
We will act on your request to terminate this Agreement and discontinue your access to
NetBanking Services within a reasonable time after receiving your request. If you terminate
this Agreement, it is your sole obligation to cancel all outstanding scheduled Payments and
Transfers. If you do not cancel your outstanding Payments and Transfers, we may continue to
make these Payments and Transfers until we process your termination request and
discontinuation request. If you close an account, it will automatically cancel your Bill
Payment, Zelle
®
, and Transfer Services from that account, including any future dated
Payments or Transfers. It is your responsibility to make other arrangements for paying your
bills and making transfers.
Once we have terminated this Agreement pursuant to your request, we will make no further
Transfers or Payments from your accounts through NetBanking Services, including any
Transfers or Payments you previously scheduled or authorized except if a Payment is already
in process. Payments that are already in process may still be claimed or sent.
CIBC BANK USA NetBanking Services Agreement
31223NSA
The liability and obligations incurred prior to any termination, suspension or discontinuation
date survive the termination of this Agreement for all purposes.
Waiver
We may enforce any of our rights under the Agreement even if we choose not to exercise any
right in a particular circumstance.
Severability
If any provision of this Agreement conflicts with the law under which this Agreement is to be
construed, or if any provision of this Agreement is held invalid or unenforceable by a court of
competent jurisdiction, that provision will be deemed to be restated to reflect as nearly as
possible the original intentions of the parties in accordance with Applicable Law. The
remaining provisions of this Agreement and the application of the challenged provision to
people, entities, or circumstances other than those as to which it is invalid or unenforceable,
will not be affected by this, and each of those provisions will be valid and enforceable to the
full extent permitted by law.
Survival
All representations regarding liability and warranties, including, but not limited to, the “Your
Liability,” and “Our Liability” and other sections as specifically stated in this Agreement,
shall survive termination of the Agreement.
Assignment
You may not assign this Agreement to any other party. We may assign or delegate certain
parts of our rights and responsibilities under this Agreement to affiliated entities,
independent contractors, or other third parties. If more than one person is authorized to use
NetBanking Services, he or she is bound jointly and severally under this Agreement, and the
Bank may act on the Instructions of any authorized user.
Choice of Law
This Agreement and its enforcement shall be governed by laws and regulations of the United
States and the laws of the State of Illinois, without regard to any choice of law provision.
Your accounts with us are also governed by the terms and conditions contained in your
Account Agreement and any other applicable agreements with the Bank.
