Terms & Conditions

NORTHEAST BANK BUSINESS BILL PAY AGREEMENT AND DISCLOSURE

This Business Bill Pay Agreement (“this Agreement”) contains the terms and conditions for the use of the Business Bill Pay service (“the Service”) provided by Northeast Bank (“the Bank”, “us”, “our”, or “we”) to your Company (“Company”, “you”, “your” or “User”). Other agreements you have entered into with the Bank, including the NetTeller Online Banking Agreement, regarding your account(s) at the Bank, are incorporated by reference and made a part of this Agreement.

DEFINITIONS: As there are some terms and/or documents referred to in this Agreement with which you may be unfamiliar, we use the following definitions throughout this Agreement:

“Account Agreement”: Your Northeast Bank account agreement is included within the “Your Deposit Account” brochure, which is available from a Customer Service Representative at any of our locations.
"You" or "Your" means the Company and each person authorized to use the Service
“Payee”: Anyone, including the Bank, that you designate to pay via the Service and the Bank accepts as a Payee, or the person or entity from which you receive electronic bills.
"Payment Instruction" is the information provided by you to the Service for a payment to be made to the Payee (such as, but not limited to, Payee name, Payee account number and Scheduled Payment Date).
"Due Date" is the date reflected on your Payee statement for which the payment is due; it is not the late date or grace period.
"Scheduled Payment" is a payment that has been scheduled through the Service but has not begun processing.
“Business Day”: Generally means Monday through Friday, except certain Holidays. These are days that the Bank will process bill payments. The Bank follows the Federal Reserve holiday schedule.
“Non-Business Day”: Generally weekends and certain holidays. These are days that the Bank will not process bill payments.

1. SERVICE: You may use Northeast Bank bill paying Service, Business Bill Pay, to direct Northeast Bank to make payments from your designated Northeast Bank business checking account(s) or other eligible accounts at the Bank to the “Payees” you choose in accordance with this agreement. You agree that we may send payments by composite check drawn by us, by check drawn on your account but without your signature (or with a signature substitute that we apply), by automated clearing house (ACH) transaction, or by such other means as we deem appropriate. Bill payments are processed via Electronic Funds Transfer (EFT). Please see the EFT disclosure statement you received when you opened your account – or request a new copy – for important information concerning your rights and obligations.

2. ACCEPTANCE AND AMENDMENT OF THESE TERMS: Your use of the Service constitutes your acceptance of this Agreement. This Agreement is subject to change at any time. We will notify you of any material change by notice by email to the email address associated with your NetTeller Online Banking ID, by mail to you at the last address shown for the account on the Bank's records, by posting notice in branches of the Bank and on our website, and/or as otherwise permitted by law. Your continued use of the Service will indicate your consent to be bound by the revised Agreement. Further, the Bank reserves the right, in its sole discretion, to change, modify, add, or remove portions from the Service. Your continued use of the Service will indicate your acceptance of any such changes to the Service.

3. LIMITATIONS OF SERVICE: When using the Service, you may experience technical or other difficulties. We will attempt to post alerts to notify you of these interruptions in the Service. We cannot assume responsibility for any technical or other difficulties or any resulting damages that you may incur from using the Service or being unable to use the Service. We reserve the right to change, suspend or discontinue the Service, in whole or in part, or your use of the Service, in whole or in part, immediately and at any time without prior notice.

4. HARDWARE AND SOFTWARE: In order to use the Service, you must obtain and maintain, at your own expense, compatible hardware and software as specified by the Bank. See our website for current specifications. The Bank is not responsible for any third-party software you may need to use the Service. Any such software is accepted by you as is and is subject to the terms and conditions of the software agreement you enter into directly with the third-party software provider at time of download and installation.

5. SERVICE FEES: Any fee that will be charged for the Service will be disclosed prior to your use of the Service. Reference the Bank’s Fee Schedule for any standard fees associated with the Service. The following special fees may apply:
- Written Correspondence to Payee: $10.00
- Per Proof of Payment Not Necessitated by Dispute: $10.00
- Payments Returned Due to Customer Error: $5.00
- Non-sufficient Funds Items Paid or Returned: Refer to standard fee schedule
- Research into Items No Longer in History: $25/hour – You will be informed before incurred.
There will be no charge for any items if needed to correct a Bank error. The Bank may change the fees for use of the Service at any time pursuant to the section titled “Acceptance and Amendment of These Terms” above. You authorize the Bank to deduct such fees from the account from which your bill payments are being made.

6. SETTING UP PAYEES, PAYMENTS & USERS:
Payees: If you want to add a new Payee, either select the “Payee” tab located in Bill Pay and enter the required information, submit your request in writing, or speak to an Electronic Banking Specialist. Payees must be located in the United States including U.S. territories and APO’s / AEO’s. The Bank reserves the right to refuse the designation of a Payee for any reason.
Payments: You may add a new payment to a Payee only if they are on your authorized list of Payees. You add a Payment 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.
Users: If Company is a NetTeller Cash Management customer through the Bank, then you will have the ability to set up users with different access, permissions, and authority for paying bills (e.g., control which accounts they can pay from, which Payees they can pay, and whether they can only initiate a payment or approve payments).

7. PAYMENT RESTRICTIONS:• Payments should not be remitted to securities companies for stock purchases or trade taxing authorities.
• Payments should not be remitted for court-ordered payments (e.g., alimony, child support).
If you submit any of this types of payments, you do so at your own risk. In no event shall the Bank be liable for any claims or damages resulting from your scheduling of these types of payments. The Bank has no obligation to research or resolve any claim resulting from these types of payments. All research and resolution for any misapplied, mis-posted or misdirected payments will be the sole responsibility of you and not the Bank.

8. ELECTRONIC BILL DELIVERY AND PRESENTMENT: The Service includes an Electronic Bill (eBill) feature for the presentment of electronic bills only and it is your sole responsibility to contact your Payees directly if you do not receive your statements. In addition, if you elect to activate one of the Service's electronic bill options, you also agree to the following:
Information provided to the Payee - The Service is unable to update or change your personal information such as, but not limited to, name, address, phone numbers and e-mail addresses, with the electronic Payee. Any changes will need to be made by contacting the Payee directly. Additionally, it is your responsibility to maintain all User Names and Passwords for all electronic Payee sites. You also agree not to use someone else's information to gain unauthorized access to another person's bill. The Service may, at the request of the Payee, provide to the Payee your email address, service address, or other data specifically requested by the Payee at the time of activating the electronic bill for that Payee, for purposes of the Payee informing you about Service and/or bill information.
Activation - Upon activation of the electronic bill feature, the Service may notify the Payee of your request to receive electronic billing information. The presentment of your first electronic bill may vary from Payee to Payee and may take up to sixty (60) days, depending on the billing cycle of each Payee. Additionally, the ability to receive a paper copy of your statement(s) is at the sole discretion of the Payee. While your electronic bill feature is being activated it is your responsibility to keep your accounts current. Each electronic Payee reserves the right to accept or deny your request to receive electronic bills.
Authorization to obtain bill data - Your activation of the electronic bill feature for a Payee shall be deemed by us to be your authorization for us to obtain bill data from the Payee on your behalf. For some Payees, you will be asked to provide us with your user name and password for that Payee. By providing us with such information, you authorize us to use the information to obtain your bill data and to share information with the Payee.
Notification - The Service will use its best efforts to present all of your electronic bills promptly. In addition to notification within the Service, the Service may send an email notification to the email address listed for your account. It is your sole responsibility to ensure that this information is accurate. In the event you do not receive notification, it is your responsibility to periodically login to the Service and check on the delivery of new electronic bills. The time for notification may vary from Payee to Payee. You are responsible for ensuring timely payment of all bills.
Cancellation of electronic bill notification - The electronic Payee reserves the right to cancel the presentment of electronic bills at any time. You may cancel electronic bill presentment at any time. The timeframe for cancellation of your electronic bill presentment may vary from Payee to Payee. It may take up to sixty (60) days, depending on the billing cycle of each Payee. The Service will notify your electronic Payee(s) as to the change in status of your account and it is your sole responsibility to make arrangements for an alternative form of bill delivery. The Service will not be responsible for presenting any electronic bills that are already in process at the time of cancellation.
Non-Delivery of electronic bill(s) - You agree to hold the Service and the Bank harmless should the Payee fail to deliver your statement(s). You are responsible for ensuring timely payment of all bills. Copies of previously delivered bills must be requested from the Payee directly.
Accuracy and dispute of electronic bill - Neither the Service or the Bank is responsible for the accuracy of your electronic bill(s). The Bank is only responsible for presenting the information we receive from the Payee through the Service. Any discrepancies or disputes regarding the accuracy of your electronic bill summary or detail must be addressed with the Payee directly.
This Agreement does not alter your liability or obligations that currently exist between you and your Payees.
9. BILL PAYING PROCESS
Single Payments – A single payment will be processed on the Business Day that you designate as the payment’s processing date, provided the payment is submitted prior to the daily cut-off time on that date. The daily cut-off time is currently 2:00PM Central Time.
A single payment submitted after the cut-off time on the designated process date will be processed on the next Business Day. If you designate a non-business date as the payment’s processing date, the payment will be processed on the Business Day before the designated processing 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 processing date is calculated for the next occurrence of the payment. When scheduling a recurring payment, you have the option of selection “Pay Before” or “Pay After” if the calculated processing date is a Non-Business Day. If you select “Pay Before”, the processing date for the new occurrence will be the first Business Day prior to the calculated processing date. If you select “Pay After”, the processing date for the new occurrence of the payment will be adjusted to the first Business Day after the calculated processing 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 processing date, then the last calendar day of that month is used as the calculated processing date.

Estimated Arrival Date: The system will calculate the Estimated Arrival Date of your single and recurring payments. This is only an estimate, so please allow ample time for your payments to reach your Payees. We recommend that you allow at least seven (7) Business Days prior to the Due Date for each bill payment (recurring or single) to reach the Payee.

Rush Payments: The Service will allow you to make Rush Payments using the funds in your payment account for a fee. The following Rush Payments options exist: Next Business Day draft check, Second Business Day draft check, and Second Business Day electronic payment. Payees determine which the types of Rush Payments they accept. The fee varies based on the type of Rush Payment selected and will be disclosed and must be agreed to prior to your use of the feature. A Rush Payment may be delivered to the Payee via ACH Debit or paper check mailed through a priority mailing service. Rush paper checks can only be sent to a physical address – they cannot be send to a P.O. Box. Scheduled Payments are processed as batch transactions at the end of the Business Day. Rush Payments, depending on the time the transaction was scheduled, may be processed with the Scheduled Payments, or Immediately. Next day delivery of overnight checks can only be guaranteed if the request is submitted before 1 PM Central Time. The fee for Rush Payments sent by check will be debited from your payment account on the process date and the funds will be released once the Payee cashes the check. The fee and funds for electronic Rush Payments will appear as two separate debits to your account on the process date.

Tax Payments: In order to provide a means for making tax payments, the Business Bill Pay Service interfaces with the Electronic Federal Tax Payment System (EFTPS), which is a federal government program that provides a means for electronic tax payments. The EFTPS is not affiliated with Northeast Bank. When you selected the “Schedule a Tax Payment” option, the Service will direct you to the EFTPS which is a separate website. If you have not completed your transaction within 15 minutes, your EFTPS session will time out for security purposes.

Cancelling or Changing a Payment: A Scheduled Payment can be changed or cancelled any time prior to the cutoff time on the scheduled processing date.
Stop Payment Requests: The Bank’s ability to process a stop payment request will depend on the payment method and whether or not a check has cleared. The Bank may also not have a reasonable opportunity to act on any stop payment request after a payment has been processed. If you desire to stop any payment that has already begun processing, you must contact the Bank at 612-379-8811 and ask for an Electronic Banking Specialist. Although the Bank will make every effort to accommodate your request, the Bank will have no liability for failing to do so. The Bank may also require you to present your request in writing within fourteen (14) days. The charge for each stop payment request will be the current charge for such service as set out in the applicable fee schedule.

Returned Payments: In using the Service, you understand that Payees and/or the United States Postal Service may return payments to the Service for various reasons such as, but not limited to, Payee's forwarding address expired; Payee account number is not valid; Payee is unable to locate account; or Payee account is paid in full. The Service will use its best efforts to research and correct the returned payment and return it to your Payee, or void the payment and credit your payment account. You may receive notification from the Service.

10. PAYMENT AUTHORIZATION AND REMITTANCE: By providing the Service with names and account information of Payees to whom you wish to direct payments, you authorize the Service to follow the Payment Instructions that it receives through the Service. In order to process payments more efficiently and effectively, the Bank or the Service may edit or alter payment data or data formats in accordance with Payee directives.
When the Service receives a Payment Instruction, you authorize the Service to debit your payment account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment date designated by you. You also authorize the Service to credit your payment account for payments returned to the Service by the United States Postal Service or Payee, or payments remitted to you on behalf of another authorized user of the Service. The Service will use its best efforts to make all your payments properly.

11. AVAILABLE FUNDS: You agree to have available and collected funds on deposit in the payment account(s) you designate in amounts sufficient to pay for all Bill Payments requested as well as any other payment obligations you have to or through the Bank. 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 of this agreement. If you do not have sufficient funds in the 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 that we, at our option, may charge any of your accounts with us to cover any such payment obligations.

12. ERRORS: You agree to notify the Bank of any suspected errors regarding items paid through the Service immediately, and in no event later than 60 days after the applicable Bank account statement is sent. Unless you notify the Bank within 60 days, such statement shall be deemed correct, and you are prohibited from bringing a claim against the Bank for such alleged error.

13. TERMINATION OR CANCELLATION: We may terminate this Agreement at any time, for any reason, and without notice. This Agreement shall remain in full force and effect unless and until it is terminated by the Bank. Without limiting the foregoing, this Agreement may be terminated if you breach any term of this Agreement, if you use the Service for any unauthorized or illegal purposes, or you use the Service in a manner inconsistent with the terms of your account agreement or any other agreement with us.
In the event you wish to cancel the Service, you may call the Bank at 612-379-8811 and ask for an Electronic Banking Specialist or you may send written notice to the Bank at:
Northeast Bank
ATTN: eBanking
77 Broadway St NE
Minneapolis, MN 55413

The Bank is not responsible for any payment made before the Bank has a reasonable opportunity to act on your cancellation notice. Once your access to the Service is deactivated, then Scheduled Payments including recurring payments will not be processed. You remain obligated for any payments made by the Bank on your behalf. Neither termination, suspension, nor cancellation shall affect your liability or obligations under this Agreement.

14. ENFORCEABILITY. We may waive enforcement of any provision of this Agreement. No waiver of a breach of this Agreement shall constitute a waiver of any prior or subsequent breach of the Agreement. Any such waiver shall not affect our rights with respect to any other transaction or to modify the terms of this Agreement. In the event that any provision of this Agreement shall be deemed to be invalid, illegal, or unenforceable to any extent, the remainder of the Agreement shall not be impaired or otherwise affected and shall continue to be valid and enforceable to the fullest extent permitted by law.

15. LIMITATION OF LIABILITY. You are solely responsible for controlling the safekeeping of and access to your online banking credentials which control access to the Service. The Company is responsible for all payments authorized by its Users using the Service. If you permit other persons to use the Service or your password or other means to access your account, you are responsible for any transactions they authorize. If you believe that your password or other means to access your account has been lost or stolen, or that someone may attempt to use the Service without your consent or has transferred money without your permission, you must notify the Bank immediately by calling 612-379-8811 or sending an email to ebanking@northeastbank-mn.com. If you want to terminate a User’s authority to use the Service, you must notify the Bank and arrange to deactivate their access. You will be responsible for any bill payment request an authorized User makes that contains an error or is a duplicate of another bill payment.
The Bank is not responsible for payments that cannot be made due to incomplete, incorrect, or outdated information. The Bank is not responsible for a bill payment that is not made if you did not properly follow the instructions for making a bill payment. The Bank is not liable for any failure to make a bill payment if you fail to promptly notify the Bank after you learn that you have not received credit from a Payee for a bill payment. The Bank is not liable if the Payee mishandles or delays a payment sent by the Service. The Bank is not responsible for your acts or omissions or those of any other person, including, without limitation, any transmission or communications facility, and no such party shall be deemed to be the Bank's agent.
Provided none of the foregoing exceptions are applicable, and the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a Payee which does not comply with your Payment Instructions, the Bank shall be responsible for returning the improperly transferred funds to your Payment Account, and for directing to the proper Payee any previously misdirected transactions, and, if applicable, for any late payment related charges.
THE FOREGOING SHALL CONSTITUTE THE BANK’S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL NORTHEAST BANK BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES RESULTING FROM THE USE OR THE INABILITY TO USE THE SERVICE INCURRED BY YOU OR ANY THIRD PARTY ARISING FROM OR RELATED TO THE USE OF, INABILITY TO USE, OR THE TERMINATION OF THE USE OF THIS SERVICES, REGARDLESS OF THE FORM OF ACTION OR CLAIM (WHETHER CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF THE BANK HAS BEEN INFORMED OF THE POSSIBILITY THEREOF.

16. DISCLAIMER OF WARRANTIES. YOU AGREE THAT YOUR USE OF THE SERVICE AND ALL INFORMATION AND CONTENT (INCLUDING THAT OF THIRD PARTIES) IS AT YOUR RISK AND IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE DISCLAIM ALL WARRANTIES OF ANY KIND AS TO THE USE OF THE SERVICES, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE.