Terms & Conditions

TERMS & CONDITIONS – IMPORTANT NOTICE:

Note: You must use Online Banking to use Bill Payment.

Your Responsibility. You are responsible for selecting all systems, hardware and your
Internet service provider and for any defect, malfunction or interruption in service or
security due to hardware failure, your choice of Internet service provider, or other causes.
Your computer and Internet browser you intend to use must meet our minimum
requirements.

Business Days. The Internet Services are available 24 hours a day, seven days a week,
except during special maintenance periods, which generally are scheduled between 11:00
p.m. Sunday night and 4:00 a.m. Monday morning, or an unanticipated downtime. For
purposes of transactions, Denmark State Bank’s business days are Monday through Friday,
except federal holidays. All Internet Service transaction requests received after 5:00 p.m.
central time on business days, and all transactions which are requested on Saturdays,
Sundays or holidays on which we choose to remain closed, will be processed on our next
business day. Our business day begins at 9:00 a.m. If you schedule a recurring funds
transfer and the payment date does not exist in a month (29th, 30th or 31st), the payment
will be processed on the next business day.

Functions. To use Internet Service, you must have a business checking account. You may
use Internet Service with your Eligible Accounts. An “Eligible Account” means, for online
banking, a business checking accounts or a business savings account; for online loan
services, a business loan accounts; and for bill payment services, a business checking
account. Any signer, acting alone, will be authorized to access a linked account. Deposit
and loan accounts that have a common tax identification number may be linked for access
purposes. An account that requires two signatures for withdrawals may not be an Eligible
Account. Using your security codes and the Internet Service you can:

• Funds Transfers. You may use Internet Service to perform unlimited funds transfers from
one Eligible Account to another. You may transfer from an Eligible Account to make loan
payments. You may initiate advances from Eligible Loans to Eligible Accounts if the Eligible
Loan allows for such advances and there is availability on such loan. You may obtain
historical information regarding Eligible Loans through this Service. While these Terms and
Conditions do not impose a restriction on the number of transactions from Eligible Accounts
or the amounts which may be transferred, certain limits and restrictions on the frequency of
transfers may be applicable with respect to the particular types of accounts. Please refer to
the disclosure documents you received at the time your accounts were established for more
information on limitations and restrictions applicable hereto.
• Balance Inquiries. You may check the current balance and other account information on all
of your Eligible Accounts. You may also order copies of checks, place stop payments on
checks, download your account information to financial management software and upload
data.
• Customer Service. You may communicate with us by using your computer to send and
receive written messages electronically. Please refer to the "Contact Us" option to send us
your comments, questions or concerns.
• Bill Payment. If you use our Bill Payment feature, you may initiate bill payments as
described below.

New services may be introduced for Internet Service from time to time. We will notify you
of the existence of these new services. By using these services when they become
available, you agree to be bound by the rules that will be made available to you concerning
these services.

Overdrafts. When you schedule a funds transfer using the Internet Service, you authorize
us to withdraw the necessary funds from your account with us. We deduct the amount of
your funds transfer from your account on the date we process your instruction. Each
instruction to us to withdraw or transfer from an account is an order to us to pay from that
account at that time or on a later date, if any, indicated in the instruction. We may charge
payments against the account even though the charge creates an overdraft, or we may
refuse to make payments if the charge creates an overdraft. If you overdraw your account,
you agree to immediately pay us the overdrawn amount, together with any applicable fees.
If the account is maintained in connection with an overdraft credit plan, any overdraft will be
made in accordance with the agreement or rules governing that account rather than this
Agreement.

Periodic Statements. Your Internet Service account activity will appear on your periodic
account statement. If there are no transfers in a particular month, you will receive
statements at least quarterly.

Bill Payment Procedures. To add payees, use “Payments, Manage Payees, Add New Payee”
on the internet or speak to a service representative. You may add a new fixed payment to
a payee, only if the payee is on your authorized list of payees, and by accessing the Service
and entering the appropriate information. Most other additions, deletions, or changes can
be made in writing or by using the Service. We reserve the right to refuse the designation
of a payee for any reason. Each payee accepted by us will be assigned a payee code. You
may make bill payments in amounts from $1.00 to $25,000.00 with a limit of $50,000.00 per
day. You may pay any payee you wish in the U.S. If you have the authorization to do
transfer and/or email payments, you may do them in the amounts from $1.00 to $2,500.00
per payment up to a total of $2,500.00 per day. Bill Payments are debited from your
designated Eligible Account on the process date.

Single Payments
A single payment will be processed on the business day (generally Monday through Friday,
except certain holidays) that you designate as the payment’s process date, provided the
payment is submitted prior to the daily cut-off time on that date. The daily cut-off time,
which is controlled by the financial institution, is currently 2:00 CST. We reserve the right to
change the cut-off time. You will receive notice if it changes. A single payment submitted
after the cut-off time on the designated process date will be processed on the following
business day. If you designate a non-business date (generally weekends and certain
holidays) as the payment’s process date, the payment will be processed on the first
business day following the designated process date.

Recurring Payments
When a recurring payment is processed, it is automatically rescheduled by the system.
Based upon your selected frequency settings for the payment, a process date is calculated
for the next occurrence of the payment. If the calculated process date is a non-business
date (generally weekends and certain holidays), it is adjusted based upon the following
rules:

If the recurring payment’s “Pay Backward” option is selected, the process date for the new
occurrence of the payment is adjusted to the first business date prior to the calculated
process date. If the recurring payment’s “Pay Backward” option is not selected (or if
the “Pay Backward” option is not available), the process date for the new occurrence of the
payment is adjusted to the first business date after the calculated process date.

Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as
a particular day of the month for processing and that day does not exist in the month of the
calculated process date, then the last calendar day of that month is used as the calculated
process date.

For Single and Recurring Payments, YOU MUST ALLOW AT LEAST EIGHT (8) BUSINESS
DAYS, PRIOR TO THE DUE DATE, for each bill payment to reach the Payee. Any bill
payment can be changed or canceled, provided you access the Bill Pay Service prior to the
cut-off time on the business day prior to the business day the bill payment is going to be
initiated.

You agree to have available and collected funds on deposit in the account you designate in
amounts sufficient to pay for all bill payments requested, as well as, any other payment
obligations you have to us. We reserve the right, without liability, to reject or reverse a bill
payment if you fail to comply with this requirement or any other terms hereof. If you do
not have sufficient funds in the Eligible Account and we have not exercised our right to
reverse or reject a bill payment, you agree to pay for such payment obligations on
demand. You further agree we, at our option, may charge any of your accounts with us to
cover such payment obligations.

Our Liability For Failure to Make Transfers. If you have given us all of the proper and timely
instructions and have properly completed all fields to complete a transfer, and due solely to
our error we do not complete a transfer to or from your account in the correct amount or to
the correct payee, then subject to the limitations contained in the paragraph captioned
REMEDIES UPON DEFAULT; LIMITATION OF LIABILITIES, we will be responsible for
correction of our error. However, there are some exceptions. We will not be liable, for
instance:

• If, through no fault of ours, your account does not contain sufficient collected funds to
make the transfer.
• If the money in your account is subject to legal process or other encumbrances restricting
the transfer.
• If the transfer would go over the credit limit on your overdraft credit plan, if any.
• If a transfer system was not working properly and you knew about the breakdown when
you started the transfer.
• If circumstances beyond our control (such as, without limitation, equipment or
communications failures, or third party system malfunctions or delays, or fire or flood)
delay or prevent the transfer despite reasonable precautions that we have taken.
• If incomplete or inaccurate information is forwarded to us by you or through an automated
clearinghouse.
• If you have not provided us with complete, correct and current payment information,
including without limitation the name, address, account number and payment amount for the
payee on a bill payment.
• If you have not properly followed the instructions for using the Internet Service.
• If your operating system is not properly installed or functioning properly.
• For errors or failures from any malfunctions of your browser, internet service provider,
computer, computer virus or other problems relating to the computer equipment you use,
including, without limitation, your inability to access all or any part of Internet Service.
• If we have a reasonable basis for believing that unauthorized use of your security codes
or accounts has occurred or may be occurring, or if you default under these Terms and
Conditions, your Deposit Account Agreement, a credit agreement, or any other agreement
with us, or if we or you terminate this Service.
• For a failure to provide access or for interruptions in access to the Internet Service due to
Internet Service system failure.
• For a delay in crediting payments to a payee that are the result of its procedures.
• For your failure to follow a payee’s payment requirements.
• For your failure to schedule a proper date for payment sufficiently in advance of the date
a payment is due.
• For any other delay in payment.
• For your attempt to pay a payee that is not on your authorized payee list.
• If you make a bill payment that contains an error or is a duplicate of another bill payment.
• If you fail to promptly notify us after you learn that you have not received credit from a
payee for a bill payment.
• For delays in any mail service.

Account Information Disclosure.
We will disclose information to third parties about your account or the transfers you make,
as permitted by law, including, without limitation: where it is necessary for completing or
tracing transfers or resolving errors or claims; in order to verify the existence and condition
of your account for a third party, such as a credit bureau or other financial institution; in
order to comply with court orders or other legal process; to comply with subpoenas,
summonses, search warrants or requests from government agencies; to other companies
affiliated with us; to others with your consent; whenever required by law; and to companies
that perform marketing services on our behalf or to other financial institutions with whom
we have joint marketing agreements.

You agree that we may deliver our privacy notices and opt-out notices to you by making
them available on our web site.

Electronic Mail. If you send us an electronic mail message, we will be deemed to have
received it on the following business day. We will have a reasonable time to act on your e-
mail.

You should not rely on electronic mail if you need to communicate with us immediately
(e.g., if you need to report an unauthorized transaction from one of your accounts, or if you
need to stop a payment that is scheduled to occur).

You agree that we may respond to you by electronic mail with regard to any matter related
to the Internet Service, including responding to any claim of unauthorized electronic funds
transfer that you make. Any such electronic mail sent to you by us shall be considered
received within three (3) days of the date sent by us, regardless of whether or not you sign
on to the Internet Service within that time frame.

Termination. We may at any time, without prior notice to you, modify, suspend or terminate
your privilege of using Internet Service and/or withhold approval of any transaction. In the
event we do any of the foregoing, we will try to notify you in advance but are not required
to do so. You will be notified as soon as practicable. Any Administrator may terminate
Internet Service on your behalf. Such termination shall not affect the rights and obligations
of either of us for transactions made with the Internet Service before we have had a
reasonable time to respond to your termination request.

You may cancel your Internet Service by calling us at (920) 863-2161 or writing us at
Denmark State Bank, 103 E. Main St., P.O. Box 130, Denmark, WI, 54208 or by sending an
e-mail message through Internet Service. If you call or e-mail, we may also require you to
confirm your request in writing. Since service cancellation requests can take up to 10 days
to process, you should cancel all transfer orders in addition to notifying us of your desire to
terminate the service. We will not be liable for transfers not cancelled or transfers made due
to the lack of proper notification by you of service termination or discontinuance for any
reason. Once we terminate your Internet Service, any pending transfers will be terminated.

We may convert your account to inactive status if you do not sign on to the Internet Service
or have any transaction scheduled through the Internet Service during any consecutive
sixty (60) day period. If your account is considered inactive, you must contact us to have
the Internet Service activated before you will be able to schedule any transaction through
the Internet Service.

Third Parties. You understand that support and services relating to Internet Service are
provided by third parties other than us, and you authorize us to contract with third parties to
provide such support and service.

Receiving Online Banking Disclosures. You agree to receive all updates to these Terms and
Conditions and all notices and other communications and Disclosures regarding online
banking and bill payment services electronically. If you change your e-mail address, please
sign on to Internet Service and update your e-mail so that we can alert you to any such
updates. You can request free paper copies of any of these documents by calling 920-863-
2161 or sending an e-mail to info@denmarkstate.com.