Owner’s Authority and Authorized Persons or Agents (including Power of Attorney)
Each owner of a personal account, or an agent for a non-personal account, acting alone, has the power to perform all the transactions available to the account. For example, each owner is authorized on behalf of you to open, operate and close accounts; execute or otherwise agree to any form of agreement relating to the Financial Services, including, without limitation, draw, accept, endorse or discount checks, drafts, bills of exchange, notes and other financial instruments; receive materials related to security procedures; and give instructions, including, without limitation, requests and payment orders, by means other than the signing of an Item, with respect to any account transaction. Without limitation, such instructions may be given regarding: (i) the payment, transfer or withdrawal of funds by wire, computer or other electronic means, or otherwise; (ii) money, credits, items or property at any time held by the Bank for your account; or (iii) any other transaction of yours with the Bank.
Any account owner is permitted to authorize anyone else to access your account (an “Agent”). This can be done by following a process the Bank requires (such as designating someone an authorized signer) or by authorizing someone on your own to act on your behalf (such as a through a power of attorney.)
If you name an agent:
- we may require that you use forms we approve and require each owner to sign the form to be effective;
- the powers you give to your agent, and any limitations on those powers, are between you and your agent, even if we have express written notice of those powers. You understand and agree that we have no duty or responsibility to monitor the acts of your agent or ensure that the acts of your agent are for your benefit. For example, if you only give your agent authority to pay your bills and your agent exceeds that authority, we are not responsible for that breach of authority;
- you agree not to hold us responsible for any loss or damage you incur as a result of us following instructions given to us by your agent;
- the owners of the account are responsible to us for any actions of your agent, regardless of whether those actions exceed the authority given or whether the agent is formally nominated by all the owners or less than all the owners;
- the agency will end if the owner dies and we get notice of that death, or if there is more than one owner, the agency will end after the death of the last owner and we get notice of that death and, in either case, once we’ve had reasonable opportunity to act on it.
- the agency will end after the owner notifies us in writing to end the agency and we have had a reasonable opportunity to act on it.
- if you authorize any third person, such as a bookkeeping service, an employee, or agent of yours to retain possession of or prepare items, you agree to assume full responsibility for any errors or wrongdoing performed or caused by such third person or any of its agents or employees if we should pay any such item..
The Bank is authorized to rely upon any document that indicates that a person or agent is authorized to act on behalf of you with respect to Financial Services. That authority shall remain in effect until the authority for the Agent is withdrawn by you upon written notice to the Bank and the Bank has had a reasonable opportunity to act on the termination instruction.
The Bank will honor a Power of Attorney designation on an account, if it receives the required documentation evidencing such designation. The account owner and person executing the power of attorney over a Deposit Account is known as the “Principal.” The person granted power of attorney for the Principal is known as the “Attorney-in-Fact.” We may refuse to accept a power of attorney for reasonable cause, and we may require the Attorney-in-Fact to sign an affidavit stating that the power of attorney presented to us is a true copy and that, to the best of the Attorney-in-Fact’s knowledge, the Principal continues to be alive and competent and the relevant powers of the Attorney-in-Fact have not been amended or terminated.
The Principal is responsible for informing us in writing if the Principal learns of any untrue or misleading information relating to the Power of Attorney or if the Attorney-in-Fact exceeds the authority granted by the Principal in the power of attorney. The Attorney-in-Fact is required to notify us in writing if the Principal or any other account owner dies or is declared incompetent.
The power of attorney will continue in force until (a) we receive written revocation from the Principal; (b) we receive written notification of the Principal’s death; or (c) we receive written notification of the death or incapacity of the Attorney-in-Fact.
Banking Products
The Financial Services offered through the Bank website are provided by The Bancorp Bank, a member of the Federal Deposit Insurance Corporation (the “FDIC”). For purposes of applicable FDIC deposit insurance limitations, deposits in accounts at The Bancorp Bank opened through the Bank, or any affiliated Bank or Bank website, may not be separately insured from any other Deposit Accounts you may have opened with The Bancorp Bank, depending on the named account owners.
Internet-Enabled Accounts
You certify that you have access to the Internet and a current email address. You have sole responsibility for providing the Bank with a correct and operational email address and ensuring that you have access to that email address. You must promptly notify the Bank of any change in your email or postal mailing address, or if you are unable to access your account information through the Internet. If you do not promptly notify the Bank, we will not be held liable for any adverse effects to your account as a result of undelivered mail or email or due to your inability to access your account information over the Internet. The Bank is not responsible for any costs that you incur for maintaining Internet access or an email account.
Privacy
Your account is subject to the Bank’s privacy practices as set forth in its privacy notice. You have had an opportunity to review, download and/or print, and you agree to the privacy notice relating to the Financial Services provided by the Bank.
Consumer Reports
Consumer reports may be obtained by the Bank in connection with any Financial Service that you request or receive. The Bank will inform you of its use of any consumer report as required by law. If you ask us, you will be informed whether or not such a report was requested, and if so, the name and address of each agency that furnished the report.
Illegal, Fraudulent or Improper Activity
You will not use the Bank website or any Financial Service for any illegal, fraudulent or improper activity, including Internet Gambling. If the Bank suspects that you may be engaging in or have engaged in a fraudulent, illegal or improper activity, including a violation of this Agreement, or any terms and conditions relating to the Bank website or any Financial Service, your access to the Bank website and any Financial Services may be suspended or terminated. You understand that transactions in your accounts may be suspended or terminated if an Internet Banking user ID, Internet Banking password, Automated Teller Machine (“ATM”) card, debit card, or Personal Identification Number (“PIN”) (individually and collectively, an “Access Device”) has been reported lost or stolen or when the Bank reasonably believes that there is unusual or suspicious activity on any of your accounts. You will cooperate fully with the Bank to investigate any suspected illegal, fraudulent or improper activity.
Fraud Prevention
To help prevent fraud and other criminal activities, the Bank strongly suggests that you use an up-to-date web browser with security features. Regardless of whether you use a web browser with security features, the Bank is unable to ensure that the data transmitted by you to the Bank, or from the Bank to you, will not be intercepted by third parties. To further ensure the security of your account, the Bank encourages you to avoid transmitting confidential information through email communications.
Further, do not disclose your password to access the Bank web site, or any PIN assigned to your account, to any person other than persons you intend to have full authority to act on your behalf with regard to all of your Financial Services and accounts. The Bank may act upon instructions and information received from any person that enters your user ID and password, or provides your PIN, as applicable. You will notify the Bank immediately if your password or PIN is compromised or lost.
Agreements Regarding Telephone and Electronic Communications
You agree that we and our agents, affiliates, contractors, subcontractors, and assignees may call or contact you at any telephone number obtained by any reasonable means, including without limitation, a caller identification system that captures your number when you call us or from a third party such as one of your creditors.
You expressly consent to receiving calls, text messages and other communications from us, our agents, affiliates, contractors, subcontractors, and assignees on any number that is assigned to a cellular telephone service, wired telephone service (land line), paging service, facsimile machine, specialized mobile radio service, or other radio common carrier service, placed through use of an autodialer, artificial voice or pre-recorded message, or any other technology, even if you incur a cost when we contact you.
You expressly consent to our recording of telephonic communications with you, even if we do not inform you of the recording at the time of the call.
Limit on Liability
To the fullest extent permitted by law, the Bank will not have any liability in connection with any unauthorized interception or use of data relating to you or the Financial Services; any inability to use or access the Bank website for any reason; any actions or transactions by an individual who uses your user ID and password; or any cause over which the Bank does not have direct control, including problems attributable to computer hardware or software (including computer viruses), telephone or other communications, or Internet service providers. The Bank will not have liability for any adverse effects to your account caused by any spam block programs or fire walls that may prohibit email communications and/or account information access through the Internet.
The Financial Services accessible through the Bank website are provided “as is” and with all faults. The Bank disclaims, for itself and for each other entity related to providing the Financial Services, all warranties, either express or implied or statutory, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose and lack of viruses. In no event shall the Bank be liable for (a) damages caused other than by its own gross negligence or intentional misconduct or (b) indirect, special, incidental, consequential or punitive damages whatsoever (including, but not limited to, damages for lost profits, disclosure of confidential information, or loss of privacy) arising out of or in any way related to the use of or inability to use the Bank website or any Financial Service, even if the Bank has been advised of the possibility of such damages. In no event shall the Bank be liable for any act or omission of any third party (such as, for example, any provider of telecommunications services, Internet access or computer equipment or software) or any circumstances beyond our control (such as, for example, a fire, flood or other natural disaster, act of God, war, riot, strike, act of civil or military authority, equipment failure, computer virus, or failure or interruption of electrical, telecommunications or other utility services). The foregoing disclaimer may not be effective under applicable state law.
Transfer
You may not transfer any rights or obligations you may have under this Agreement or with respect to any Financial Service without prior written consent of the Bank. The Bank reserves the right to transfer any right or obligation under this Agreement or with respect to any Financial Service without your consent.
Governing Law
This Agreement between you and the Bank is accepted by the Bank in the State of Delaware and is governed by Delaware law.
In addition to the terms and conditions set forth in this Agreement and related account disclosures, your account is subject to, applicable FDIC rules and regulations, and the laws of the State of Delaware, the United States of America and any other regulatory bodies with jurisdiction over the Bank and the Financial Services provided.
Miscellaneous
This Agreement is binding upon and shall insure to the benefit of permitted successors, assignees and designees of you and the Bank. If any provision of this Agreement is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired and will remain in full force.
Contacting The Bancorp Bank
You may contact The Bancorp Bank by email or by first-class U.S. mail to: The Bancorp Bank, Attn: Customer Service, 409 Silverside Road, Suite 105, Wilmington, DE 19809 or by toll-free telephone at800.545.0289.
Telephone conversations with representatives of the Bank may be recorded and retained.