BEFORE ENROLLING IN ONLINE BANKING OF ORIENTAL ("ONLINE BANKING" OR THE "SERVICE"), SUBMITTING ANY PERSONAL INFORMATION, OR RECEIVING ANY DISCLOSURES OR OTHER INFORMATION REQUIRED BY LAW WITH RESPECT TO ANY OF OUR PRODUCTS OR SERVICES, OR USING THE SERVICE IN ANY MANNER, PLEASE READ CAREFULLY THE FOLLOWING TERMS AND CONDITIONS.

 

These terms and conditions constitute the agreement between you as a user of the Service ("User", "you", "yours") and Oriental Bank ("Bank", "we", "us", "our") and govern the use of the Service ("Agreement").

 

Online Banking de Oriental is our online consumer banking service that permits our consumer customers to perform certain banking transactions and operations (individually and together "Transactions") by using a personal computer and, for some Transactions as available from time to time through Mobile Banking ("Mobile Banking"), our mobile banking service, by using a mobile device (such as smart phones and tablets, among other). Online Banking and Mobile Banking individually and together hereinafter referred to as "Online Banking Services". Online Banking and Mobile Banking are only available, and you must only use them for personal, family and household purposes; not for commercial purposes.

 

Part I: General Provisions

 

I. Accepting the Agreement:

 

By using the Online Banking Services or authorizing others to use them, you accept and agree: (i) that this Agreement is provided to you on electronic format and that you accept it as such; (ii) such use constitutes your affirmative consent to an agreement to comply with this Agreement (including, without limitation, the terms and conditions of any additional service to which you may enroll under the terms of this Agreement; for example, those applicable to Mobile Banking) and your acknowledgment of the receipt of this Agreement and any disclosures provided in electronic form; (iii) that you authorize the electronic transmission of information including, without limitation, your personal financial information; and (iv) that we may at any time amend this Agreement, in whole or in part and, as permitted by applicable law and regulation, with or without prior notice and that, in the event of such amendment, your continued use of the Online Banking Services constitute your acceptance of the amended terms and conditions.

 

II. Electronic Delivery of Information:

 

Byaccepting this Agreement, you:(i)accept and agree that we may transmit and deliver to you electronically all future notices, disclosures, statements, and other communications regarding or in anyway related to this Agreement and the Online Banking Services ("Electronic Delivery of Information"); and (ii) affirmatively consent to such Electronic Delivery of Information. Electronic Delivery of Information may be done either: (i) by electronic remittance thereof to the external e- mail registered in your enrollment process, as defined below ("Registered email"); or (ii) by publication of the information in our Internet page at www.orientalbank.com or substitute website as permitted by applicable law or regulation. You must immediately notify to us in writing any changes to your Registered e-mail; for this purpose, you may update your email address using the tool provided for that purpose on Online Banking.

 

You may withdraw your consent to Electronic Delivery of Information at any time by following the procedure set forth in Part III Section D of this Agreement. You have the right to receive a paper copy of this Agreement and of any notice or disclosure that we may send to you electronically. To request such copies please send your request to the following address: Oriental Bank- Internet Department, P.O. Box 195115 San Juan, PR 009195115 or by sending an e-mail to service@orientalbank.com.

 

To use the Online Banking Services, you must have with us at least one consumer account relationship eligible for the Service, as determined by us from time to time. At present, for example, at least one deposit account, a credit card account, or a consumer loan. Without limiting the generality of the foregoing, to use Online Banking Services your established account relationship must be other than a joint-and-several account ("and/or") in which you are one of several account holders.

 

To access Online Banking, you must first enroll to the Service by completing the enrollment process available through www.orientalbank.com or substitute Internet ("Enrollment Process"). The Online Banking Services are only availablefor individuals of legal age (at least twenty-one in Puerto Rico or eighteen in the United States Virgin Islands) or with legal capacity to enter into agreements, per applicable local law. You must not submit any personal information if you do not comply with the aforementioned age criteria.

 

Once enrolled: (i) to access the Service you must use your username ("User Name") and password ("Password") (individually and together "Access Codes") as defined in the Enrollment Process, and (ii) you may enroll in Mobile Banking. You may enroll in Mobile Banking through m.orientalbank.com or by downloading our mobile banking application through the electronic application stores ("app stores") available for the mobile device to be used by you. Mobile Banking requires the use of smart mobile devices with the specifications determined by us from time to time and with an active Internet connection. We do not provide and are not responsible for providing you with Internet access. You are responsible for obtaining and maintaining the Internet connection and service necessary for Online Banking Services.

 

In your first access to the Online Banking Services and periodically thereafter, randomly and upon using a computer or mobile device that you had not used before in connection with said service, the system may require you to complete a logic authentication process ("advanced login authentication"). If you fail to complete said process successfully, we may (but shall not be required to) restrict your access to the Online Banking Services until you contact us or otherwise complete the procedures in effect from time to time as determined by us.

 

We may restrict access to Online Banking, to Mobile Banking or both at any time, with or without prior notice, and without liability. Without limiting the generality of the foregoing, if you do not use either Online Banking or Mobile Banking for 180 days or more (or other time period as determined by us from time to time), we will block your access to both.

 

A. Registered Accounts:

 

As part of the Enrollment Process, you must, and at any time thereafter you may, register in Online Banking the account(s) that you wish to access through the Online Banking Services (as registered by you from time to time, each a "Registered Account"). You must only register accounts in which you are an accountholder. You must not register any account on which you are only authorized to transact based on a power-of-attorney or similar authorization. As these are consumer services, you may only register consumer accounts (i.e. accounts for personal, family or household purposes).

 

Upon registering an account, the system will automatically link to Online Banking any other account that you have with us with the same profile. For example, if you register a "joint- andseveral" deposit account ("and/or") in which you are the second account holder the system will automatically register any other account opened with those same parameters.

 

The following general rules also apply to the registration of accounts for Online Banking Services:

 

Joint ("and") Deposit Accounts: If you register a joint ("and") deposit account you may only consult information regarding the account. You may not conduct transactions affecting the account.

 

Joint-and-Several ("and/or") Deposit Accounts: If you register a joint-and-several ("and/or") deposit account, either accountholder may register the account for Online Banking Services and conduct transactions in connection with it. Other accountholders in the account will be able to do the same.

 

We may change the account registration, linking or use rules for Online Banking Services at any time with or without prior notice.

 

B. Other Agreements:

 

This Agreement is in addition to those applicable to the Registered Accounts. By registering your Registered Accounts and using the Online Banking Services, you recognize and accept that: (i) each Registered Account is also subject to their respective account agreements and to any other agreement regarding services that you may have contracted in connection with them, as applicable (each such agreement, individually and together, "Other Agreements"); and (ii) the use of the Online Banking Services is also subject to the Other Agreements in effect. Among other things, the Other Agreements may contain fees, transaction limitations, balance requirements and other terms and restrictions that may affect your use of the Online Banking Services. In case of doubt, please refer to the Other Agreements, as applicable, prior to using the Online Banking Services. In case of conflict between the terms and conditions applicable to the Registered Accounts and this Agreement, this Agreement will prevail solely with respect to Transactions covered by it. You must follow any instructions and procedures applicable to the Online Banking Services.

 

IV. Security Measures:

 

You are responsible for adopting the necessary security measures to prevent unauthorized access to your accounts through the Online Banking Services. Without limiting any other measures, you shall never provide your Access Codes, debit or credit card numbers, or other account numbers to any third party. If you do, you will be authorizing that person to make transactions on the Registered Accounts and may be responsible for all transactions, including without limitation debit transactions from your Registered Accounts, that may result from your having provided said information to the third party. You are responsible for Transactions you authorize using the Online Banking Services. Any person to whom you give your Access Codes will have full access to your accounts. If you allow the use of the Online Banking Services or your Access Codes by any other person, you are responsible for the Transactions made by them.

 

We do not have any obligation, express or implied, to investigate or verify if the Online Banking Services are being used by a person authorized by you or according to the security measures adopted by you.

 

Our only responsibility is to confirm that any access to the Online Banking Services is made using your Access Codes in accordance with our normal operational sequence. We may require additional identification information needed to validate you as a user and support any needed service related to your access to the Online Banking Services. You agree to provide any additional information that we may require for identification or other purposes prior to accepting orprocessing Transactions.

 

If you believe that your Access Codes or any of them have been stolen, or that a third party has tried to use the Online Banking Services without your permission, you must notify our Customer Service at 787-620-0000 during regular business hours.

 

V. Equipment:

 

You are responsible for: (i) acquiring and maintaining or otherwise securing the necessary equipment to access our Online Banking Services ("Equipment"), (ii) making sure that the Equipment is compatible with the specifications required by us from time to time for the use of Online Banking Services, and (iii) the installation, use and maintenance of, including costs associated therewith, the Equipment, telephone service, Internet connection and Internet access services.

 

VI. Accuracy of Information:

 

Periodically, during or outside working hours we will update the information that you may obtain from our Online Banking Services. We are not responsible for updating any information at a particular time of the day or subject to a predetermined schedule. We endeavor to act diligently in entering or otherwise updating information in our Online Banking Services about your accounts and Transactions; also, in processing your Transaction instructions received through the Online Banking Services. However, we will not be responsible for any incorrect, incomplete, inaccurate, or outdated information.

 

VII. Accessibility:

 

We endeavor to provide you with access to the Online Banking Services seven (7) days a week twenty-four (24) hours a day. However, you accept and agree that such availability and our ability to provide access depends, among other factors, on the continued operation and availability of our computer systems, communication lines, your Internet service provider, your browser, your Equipment, telephone, and power lines, among other. We will not be responsible for interruptions of the Online Banking Services. In the event of interruption or temporary suspension of the Online Banking Services or any part thereof, you may conduct your Transactions through alternate channels such as: automatic teller machines ("ATMs"), any of our branches, Oriental (our telephone banking service), and other channels as available from time to time and subject to their respective availability at the time.

 

VIII. Electronic Mail:

 

AAt your sole discretion you may use electronic mailing ("e-mails") as a way to communicate with us. You shall not send Transaction instructions or other non-public personal information through an external e-mail address. We have no duty to act on Transaction instructions received from external e-mail addresses. Transaction instructions must be sent through the appropriate channels provided by the relevant Online Banking Service other than e-mail. For other purposes you may use the secure e-mail provided by the Online Banking Services. We will have reasonable time to act on any message as we may deem appropriate.

 

You must not use e-mail to conduct transactions or if you need to contact us immediately. If you need to reach us please contact us at 787-620-0000 during regular business hours. Any information sent to us by e-mail will be considered non-confidential.

 

By using the Online Banking Services, you authorize us, our affiliates, agents, and representatives to record, copy or otherwise retain any information including, without limitation, any e-mail sent to us, to our affiliates, agents or representatives in relation to the Online Banking Services and other services and transactions requested or used through the Online Banking Services.

 

We may send notices to the external e-mail address provided in your Enrollment Process (or otherwise provided as acceptable to us) to advise you of the status of Transactions, the availability of responses to your service inquiries, or for other purposes as indicated in your using the Online Banking Services. We may also use an external e-mail address to send notices about services provided by us, including service changes. To that end, you must provide us with valid external e-mail address where we may contact you ("Registered e-mail"). You are responsible for assuring that the e-mail address provided to us is working and accessible at all times while this Agreement is in effect. Without limitation, you shall immediately notify us of any changes to your Registered e-mail address or of any other events that may limit our ability to contact you through automated messages.

 

IX. Term:

 

This Agreement will continue in effect until terminated by either of us. You can cancel this Agreement by written notice to us or by calling 787-620-0000. If the order is verbal, we will send you a written confirmation. We reserve the right to terminate this Agreement or suspend your participation in the Online Banking Services at any time upon notice. You may not transfer or assign this Agreement or your participation in the Online Banking Services to any person or entity.

 

If you terminate this Agreement or otherwise cancel the Online Banking Services, any scheduled and unprocessed Transactions will be cancelled as well. We may cancel any such Transactions at any time after receipt of your notice terminating the Online Banking Services. Provisions intended to survive or which by their nature are to survive the termination of this Agreement will survive such termination.

 

Without limiting the generality of the foregoing, we may discontinue your Online Banking Services and terminate this Agreement without further notice to you if you: (i) do not use Online Banking and Mobile Banking for a period of one-hundred and eighty (180) consecutive days or more; (ii) if you close or remove from the Online Banking Services all your Registered Accounts or otherwise no longer have registered for these services at least one eligible account. Upon termination of this Agreement for any reason you shall immediately cease using the Online Banking Services. If your use of the Online Banking Services is discontinued for lack of use, you may enroll again by completing the Enrollment Process.

 

X. Our Responsibility

 

We assume no responsibility other than as expressly set forth in this Agreement and shall only be required to act as required and subject to the conditions in this Agreement.

 

We will not be liable for damages or inconveniences of any kind suffered by you or by any other person if we proceed in accordance with the provisions of this Agreement. We endeavor to always fully comply with our obligations. However, in the event of breach of this Agreement by us, our liability is limited to refunding the customer those charges imposed on the subject account.

 

Part II. Online Banking Transactions

 

I. General Provisions:

 

The following type of Transactions may be requested through Online Banking (each a "Transaction"). (i) Internal Transfers; (ii) External Transfers; (ii) Bill Payment; (iii) Credit Card Payments.

 

Some types of Transactions may also be requested through Mobile Banking, as available from time to time. In addition, subject to its own supplemental terms and conditions, through Mobile Banking you may request the remote deposit capture of checks for deposit. At our sole discretion we may change available Transactions, the terms thereof or both at any time, with or without prior notice except as otherwise expressly agreed in writing by us.

 

A. Transaction Instructions:

 

General: Transactions that require a debit against a Registered Account may only be requested from consumer deposit Registered Accounts. As applicable, Transactions may only be conducted from or to accounts with us or at financial institutions located in Puerto Rico or the United States of America including its territories and possessions ("United States"). We do not have to process and may void (but shall not be required to) any Transaction in the event of breach of this Agreement or if the Transaction does not comply with the terms of this Agreement.

 

Availability of Funds: Transactions that require a debit against an account shall be requested solely against available funds in the Deposit Registered Account (checking or savings) designated for the subject Transaction(s) ("Designated Registered Account") sufficient to cover the Transaction at the time on which the Designated Registered Account is debited. The time on which the Designated Registered Account is debited may vary depending on the type and terms of the requested Transaction. You are responsible for assuring sufficient available funds at the time of debit and for verifying that the Transaction is processed and completed as requested. You shall immediately notify us of any irregularities detected or suspected by you in the processing of Transactions.

 

We have no duty to process and will not be responsible for not processing any Transaction(s) if, at the time to be debited, the Designated Registered Account for the debit lacks sufficient funds to process the subject Transaction(s). If, at the time of a Transaction request or at any time thereafter prior to the Designated Registered Account being debited, any amount in the Designated Registered Account is subject to a "hold" of funds, you will not be able to request a Transaction that may cause a debit against the funds subject to the "hold" until expiration of the "hold" instruction.

 

Transaction Limits: Different limits apply depending on the type of Transaction (individually and together "Transaction Limits"). Transactions may be limited in terms of the number of Transactions, Transaction amounts or otherwise. At our sole discretion, we may change Transaction Limits for any or all Transaction types at any time. We are not required to process and may void (but shall not be required to do so) any Transaction in excess of applicable Transaction Limits as in effect from time to time.

 

Cut-Off Time: Different cut-off times apply depending on the type of Transaction (individually and together "Cut-Off Times"). At our sole discretion, we may change Cut-Off Times applicable to any or all Transaction times at any time. Except as expressly stated otherwise for any type of Transaction, any Transaction instructions with effective date on the same day ("Same Day Transactions") received by us after the applicable Cut-Off Time as in effect from time to time on any Business Day or on a non-business day will be processed the next Business Day.

 

Not with standing the foregoing, we shall not be liable if any Transaction requested after the applicable Cut-Off Time is processed at any time before the next Business Day. Transactions scheduled to occur in a non-business day will be processed the next Business Day.

 

Business Days: For purposes of this Agreement a "Business Day" is any day from Monday through Friday excluding federal holidays.

 

Terms: As available from time to time and except as otherwise indicated for a particular type of online Transaction, online Transactions may be requested in any of the following terms:

 

(i) One-Time Basis ("One-Time"): Each time that a one-time Transaction is requested, you shall instruct us the exact amount of the requested Transaction and the date on which you want the Transaction be made.

 

(ii) Recurrent Basis or Regular Intervals ("Recurrent"): By requesting transactions to be conducted on a recurrent basis or regular intervals, you preauthorize us to process Transactions of the same nature on a recurrent basis or at regular intervals without having to give us additional instructions for each Transaction to be conducted. As allowed for the subject type of Transaction from time to time, Recurrent Transactions may be requested in any of the following terms:

 

a.Fixed-Amount: Instructions for Fixed-Amount Recurrent Transactions must include: (i) the day on each time interval on which you want us to debit the Registered Account designated by you for the Transaction (each such day a "Transaction Day", and each such Registered Account designated for a subject Transaction a "Designated Account"); and (ii) a fixed amount which will be the amount that we will debit on each Transaction Day from the Designated Account to process your request. For example, a $100 transfer from an account at a different institution that is scheduled to occur every other week.

 

b.Variable-Amount: Instructions for Variable-Amount Recurrent Transactions must include a Transaction Day (as defined above, the day on each time interval on which you want us to debit the Designated Account). A request for a Variable-Amount Recurrent Transaction constitutes your authorization for us to debit the Designated Account in amounts that may vary from time to time and for each Transaction.

 

The availability of the above terms may vary from time to time and may vary among the different types of Transactions that may be conducted through the Online Banking Services at any particular time. We will notify you the amount, date or both of each such Transaction as may be required by applicable law or regulation.

 

You shall carefully review each and all Transaction Instructions before sending them and each Transaction confirmation to assure that the Transaction was registered correctly and as intended. Without limitation, you must assure your receipt of the confirmation number for each Transaction. We recommend that you preserve said confirmation numbers for future reference as necessary.

 

If you need any information regarding any Transaction or if you have any doubt as to the registration of any instructions, you may contact us at 787-620-0000. Some Transactions are processed in real time or may not be cancelled for other reasons. Some other Transactions (such as certain Transactions scheduled for a future date) may be cancelled prior to being processed. To cancel any Transaction, you may follow the cancellation procedures provided in the Online Banking Services for the particular Transaction, if and as available from time to time or contact us at 787-620-0000.

 

Most Transactions effected through the Online Banking Services are considered electronic funds transfers under the federal law known as the Electronic Funds Transfers Act and are therefore subject to the provisions relevant to that type of Transactions under the deposit account agreement ("Account Agreement") and the Regulation E Disclosure ("Reg. E Disclosure") applicable to the Registered Account Designated by you for the subject Transaction, as amended from time to time. For additional information please refer to the relevant Account Agreement and to the Reg. E Disclosure. A copy of the Reg. E Disclosures at the end of this Agreement.

 

II. Internal Transfers:

 

A. Service:

 

The Internal Transfers service is available through Online Banking and through Mobile Banking for customers with at least two (2) consumer savings or checking deposit Registered Account with us. With this service you may request funds transfers between Deposit Registered Accounts (savings or checking. Internal Transfers may be requested on a One-Time basis ("One-Time Internal Transfer") or on a recurrent basis ("Recurrent Internal Transfer") and Recurrent Internal Transfers may be requested on a Fixed- Amount basis. A request for an Internal Transfer constitutes your authorization for us to debit the amount indicated in the transfer instructions from the savings or checking Registered Account designated by you to originate the subject transfer(s) and to credit said amount to another savings or checking deposit Registered Account with us of which you are an accountholder. Our only responsibility with respect to Internal Transfers is to process them subject to the terms and conditions of this Agreement as applicable from time to time.

 

B. Cut-Off Time:

 

Internal Transfer instructions received by us through the Oriental Banking Services by 10:00 PM on any Business Day with "same day" effective day will be processed that day. Internal Transfer instructions with effective day the "same day", received after that time or received on a nonbusiness day will be processed the next Business Day.

 

C. Cancellations

 

Once processed, Internal Transfers cannot be cancelled. You can claim any Internal Transfer by calling us at 787-620-0000 or writing to: Oriental Bank- Internet Department P.O. Box 195115, San Juan, Puerto Rico 00919-5115.

 

III. External Transfers:

 

A. Service:

 

The External Transfers service is available through Online Banking for customers with at least one (1) consumer savings or checking deposit Registered Accounts. With this service you may request funds transfers between your savings or checking Registered Accounts with us and certain other deposit accounts at certain other financial institutions. You must register each account at another financial institution you want to use for this type of transfers. You agree to only attempt to register deposit accounts on which you are authorized to transfer funds and within the limits and conditions of said authorization.

 

External Transfers may be requested on an outgoing basis (transfers from a Deposit Registered Account with us to a Registered Account at a different financial institution) or incoming basis (transfers from a Registered Account at a different financial institution to a savings or checking deposit Registered Account with us). External Transfers may also be requested on a One-Time basis ("One-Time External Transfer") or on a recurrent basis ("Recurrent External Transfer"). Recurrent External Transfers may be requested on a Fixed- Amount. A request for an External Transfer constitutes your authorization for us to debit the amount indicated in the External Transfer instructions from the Registered Account designated to originate the subject transfer(s) and to credit said amount to the Registered Account designated to receive the transfer. Our only responsibility with respect to External Transfers is to process them subject to the terms and conditions of this Agreement as applicable from time to time.

 

B. Limits:

 

External Transfers are subject to the following Transaction Limits: (i) $5,000 per External Transfer; and (ii) $10,000 per month, plus up to 5 transfers per day, and up to 10 transfers per month, per account.

 

C. Cut-Off Time:

 

External Transfer instructions received by us through the Oriental Banking Services are processed after 7:00 PM ET on any Business Day. External Transfer instructions with "same day" effective day will be processed that day if received before 7:00PM ET on a Business Day. External Transfer instructions with effective day the "same day", received on a Business Day after that time or received on a non-business day will be processed the next Business Day.

 

If you transfer funds to a Registered Account with us, the funds will be credited to your account the next Business Day, but will not be available for use until receipt of the funds from the other financial institution. This may take up to 4 Business Days depending on the other institution.

 

D. Cancellations

 

Future One-Time and Recurrent External Transfers may be cancelled before 7:00pm ET on the day the transfer is scheduled using the "Delete" on the page "Scheduled External Transfers". If the External Transfer is already in process or was processed, you will not be able to cancel it.

 

E. Charges:

 

A $5.00 applies for each External Transfer. Other charges may apply under Other Agreements.

 

F. Suspension or Termination of Service:

 

To qualify for the External Transfers service, you must comply with the following requirements:

 

(i) All your accounts with us must be current and in good standing.

(ii) During the three (3) prior months you must not have had any overdraft or returned transactions for insufficient funds with respect to any account with us; and

(iii) You must not have had any External Transfer canceled, revoked, or incomplete due to insufficient funds, revoked authorization, stop payment, frozen account, or similar reason.

 

Account Payments:

 

A. Service

 

The Account Payments service is available through Online Banking and Mobile Banking for customers with at least one (1) consumer checking deposit Registered Account with us. You must not designate for this service any joint checking accounts or accounts that require more than one signature to withdraw funds from it.

 

With this service you may request that payments be made on your behalf (each a "Payment") from a checking Registered Accounts with us to third party merchants or creditors (including us) all as designated by you in your Payment instructions (each such third party irrespectively a "Merchant"). For purposes of Account Payments, a Merchant is any business, company, individual, or third party registered by you as one of your merchants or creditors from a list of Merchants available from time to time under this service or, as may be allowed by the Online Banking Services from time to time, that you include as a Merchant of you own. The term Merchant includes ourselves when you make a Payment to us). Merchants must be United States payees.

 

All Payments will only be made from the checking Registered Account designated in the subject Payment instructions. Payments will be made by check or automatic clearinghouse ("ACH") transaction against the checking Registered Account designated for the Payment. For Merchants added by you Payments will be made by check issued on your name against your checking Registered Account.

 

B. Account for Payments

 

You must designate one of your consumers checking Registered Accounts with us for Payments purposes. All Merchant Payments will be made only from your designated checking account so designated. Checking accounts that require more than one signature to withdraw funds shall not be designated for Payment purposes.

 

C. Designated Merchants

 

You shall appoint the participating Merchants to whom you want to make payments. As part of the Account Payments service, we provide a list of Merchants to whom you may make Payments. If the person or entity to which you wish to make a Payment is not in said list, subject to the terms of this Agreement and acceptance by us, you may include that person or entity as a Merchant following the procedure provided for such action in Online Banking. However, you may not designate a court of law. We reserve the right to refuse the designation of any particular Merchant or a class or type of Merchant. It is your duty to provide us with sufficient and correct information about any Merchant and Payment so we can send the Payment properly and the Merchant is able to credit it as appropriate upon receipt thereof. You must verify the information relating to the Merchant and immediately inform us of any discrepancies or necessary changes.

 

D. Payments:

 

By using the Account, you authorize us to debit the necessary funds from the designated checking Registered Account to process and make the requested Payment.

 

Payments by Checks: For Payments to be made by check drawn against your designated checking Registered Account you authorize us to: (i) in your name issue checks against said account and to include the phrase "Signature on File" or similar legend in the space provided for your signature; and (ii) honor all checks drawn against said account bearing the legend "Signature on File". In addition, you release us from responsibility and agree to indemnify us from any and all claim or obligation suffered or alleged in relation to the use of the "Signature on File" legend or similar language in any check drawn on the checking Registered Account designated for the Payment or for honoring the payment of any such checks. You agree and accept that Payments made by check against the designated checking Registered Account may be canceled in the event of errors on the address to which they are to be sent pursuant to your instructions when verified against the rules of the United States Postal Service.

 

Payments may be requested on a One-Time basis ("One-Time Payments") or on a recurrent basis ("Recurrent Payments"). Recurrent Payments may be requested on a Fixed- Amount basis. You acknowledge that the amount payable to your Merchant in connection with Fixed- Amount Payments may vary from time to time. Fixed-Amount Payment instructions may be modified or updated through the "Make Payments" area of Online Banking. Under no circumstances will we be liable for discrepancies between any Payments made before receiving and processing the corresponding notice and that we have had reasonable opportunity to act on it. In no event will Changes to Fixed-Amount Payments effective until we have fully processed the change request. Fixed-Amount Payments will be executed automatically until cancelled or modified by you.

 

Payment instructions must be received by us at least 7 Business Days prior to the date indicated in the instructions for the subject Payment. If you do not meet these requirements, we are not liable nor guarantee that we will be able to process the corresponding Payment before the indicated date. Furthermore, you acknowledge and agree that we shall not be responsible for late charges, or any penalty imposed upon you by your creditors or for any damage or inconvenience suffered as a result of delinquent Payments, provided that the delay is a result of your noncompliance with the requirement to give appropriate instructions at least 7 Business Days prior to the Payment due date.

 

If you fail to comply with these terms, we will neither be liable nor do we guarantee that a Payment be made on the date indicated in the Payment request. We will usually debit your account within 24 hours of receiving your instructions or at any other time that, in our absolute discretion, we determine appropriate to complete the Payment according to the instructions for the subject Payment.

 

You are responsible of requesting the Payments with sufficient time prior to the Payment due date. By using the Account Payments service, you recognize and accept that the processing and remittance of Payments made through this service may be take up to 7 Business Days and that Payments made in checks drawn against your designated checking Registered Account are sent by regular mail, which means we have no control over the time the Merchant takes to receive, process and credit the Payment. When using the Service you recognize, accept and agree that neither we, nor our affiliates, directors, officers, employees, and representatives, nor those of our affiliates, are responsible for late fees or any other type of penalty that may be imposed on you or on any other person or for damages or inconveniences of any type suffered by you or any other person as a result of or in relation to Payments made or processed late or Payments denied if any of such events were caused in whole or in part by your acts or omissions, by your failure to comply with the terms of this Agreement or by Payment instructions, or for incomplete or incorrect instructions.

 

Furthermore, by using the Account Payments service you recognize, accept and agree that any Payments may not be processed or made in any of the following situations: (i) if you provide incorrect or incomplete information with regards to the Payment; (ii) if a Merchant can not or decides to not accept the Payment sent; (iii) if we have reason to suspect that the Payment may be fraudulent; (iv) if we were not able to process or complete a Payment because of legal or regulatory reasons; or (v) if we were to determine that the Payment does not comply with the terms of this Agreement or the Account Agreement.

 

You are responsible of verifying that every requested Payment has been duly processed.

 

E . Cut-Off Time:

 

Payment instructions received by us through the Oriental Banking Services are processed after 8:00 PM ET on Business Days. Payment instructions with "same day" effective day will be processed that day if received before 8:00PM ET on a Business Day. Payment instructions with effective day the "same day", received on a Business Day after that time or received on a nonbusiness day will be processed the next Business Day.

 

F . Limits:

 

Payments are subject to the following Transaction Limits: (i) $5,000 per Payment; and (ii) $15,000 per day. We are not liable for processing Payments if the designated checking Registered Account lacks sufficient available funds at the time of debit or, for Payment made by check, at the time the check is to be paid.

 

V. Credit Card Payments:

 

A. Service:

 

The Credit Card Payments service is available through Online Banking for customers with at least one (1) consumer credit card account with us and at least one consumer savings or checking Registered Account. With this service you may make payments to your credit card Registered Accounts with us from a savings or checking Registered Account also with us.

 

Credit Card payments may be requested on a One-Time basis ("One-Time Credit Card Payment") or on a recurrent basis ("Recurrent Credit Card Payment"). Recurrent Credit Card Payments may be requested on a Fixed- Amount or a Variable-Amount basis as allowed by the system from time to time. A request for a Credit Card Payment constitutes your authorization for us to debit the amount indicated in the corresponding Credit Card Payment instructions from the Registered Account designated to originate the subject payment(s) and to credit said amount to the designated credit card Registered Account. Our only responsibility with respect to Credit Card Payments is to process them subject to the terms and conditions of this Agreement as applicable from time to time.

 

B. Limits

 

Credit Card Payments are not subject to Transaction Limits.

 

C. Cut-Off Time:

 

Credit Card Payments instructions received by us through the Oriental Banking Services are processed after 6:00 PM ET on any Business Day. For Credit Card Payments to be posted to the designated credit card Registered Account on the same day of the request, the instructions must be received by us not later than 6:00PM ET. In those cases, although the Credit Card Payment is credited to the designated credit card Registered Account on the same day, you should allow at least 3 Business Days before the payment appears on your credit card records. If your Credit Card Payment is not received by the due date on your statement, the corresponding credit card account will be subject to the fees and finance charges as described in your credit card agreement.

 

Credit Card Payment instructions with effective day the "same day", received on a Business

 

Day after that 6:00PM ET or received on a non-business day will be processed the next Business Day.

 

New cardholders: Your first payment must be made after the initial monthly cycle.

 

D. Cancellations

 

Future One-Timeand Recurrent Credit Card Payments may be cancelled before 6:00pm ET on the day the transfer is scheduled through the "Make a Credit Card Payment" area of Online Banking.

 

Part III. Electronic Documentation Notice

 

A. Information available in electronic form; disclosures available only electronically:

 

Everyone who visits our Online Banking Services and wants to electronically open any type of account (checking account, savings account, certificate of deposit, individual retirement account ("IRA"), retirement account, or any other account, as available from time to time) with the Bank, acknowledges and agrees that the annual percentage yields ("APYs"), fees, disclosures and other terms of our accounts, as well as all account statements, notices, updates and other information related to accounts are only available in electronic format. You can request a copy of any information or documents referred to above by sending an e-mail to: service@orientalbank.com, or through our customer service center, 787.620.0000. You can also print and/or electronically record any disclosure or other available information at Online Banking.

 

B. Address or location where information will be provided:

 

All disclosures required by banking laws and regulations, such as disclosures under the "Truth in Savings Act," Regulation DD and Regulation 5766, will be available in Online Banking when you open your account and for a period equal to the life of your account (updated disclosures apply to renewals at the time of renewal). Once the account has matured or is canceled according to your request, this information will be available by request by contacting us at 787.620.0000 during business hours or via electronic communication at service@orientalbank.com, or through the message center. Requested information or any additional information posted in the Online Banking Services regarding such disclosures, or a notice of changes to the terms of your account, will be notified via email to the address you indicate in the account registration form part of the Enrollment Process. In addition to receiving traditional statements, your account information will be updated daily and will be available in Online Banking during the life of your account. You will need your Access Codes to access the information.

 

C. Technical requirements:

 

By pressing the "I agree" icon, you confirm that you have access to a computer that has and is able to access the Internet using "Internet Explorer," version 4.0 or higher, or "Netscape Navigator," and that you have access to a printer or the ability to download and generate hard copies of your information and files. The Bank will promptly inform you of any material changes to the above-mentioned technical requirements.

 

D. Consent:

 

By clicking on the "I agree" icon, you also agree to receive any information and/or disclosures electronically as provided herein. However, despite your having accepted these terms, you may withdraw your approval as to receiving disclosures electronically, by sending your request to the following address: Oriental Bank - Internet Department, P.O. BOX 195115 San Juan, PR 00919- 5115 or by sending an email to service@orientalbank.com. We will process your request and will start sending any account statements or other disclosures to the physical address listed on our record. This may be subject to an additional charge as determined by us.

 

E. Information on how to contact us:

 

To update your email address, if you have questions about receiving disclosures or need technical or other support about these disclosures, please contact us by phone at 787.620.0000 or by email at service@orientalbank.com.

 

Part IV. Mobile Banking

 

All terms and conditions applicable to Online Banking apply to "Oriental our mobile banking service Mobile Banking.

 

A. Charges:

 

Mobile Internet access charges may apply according to your service provider. To use Mobile Banking you must have Internet access on your phone. Check with your service provider for details on specific costs for Internet access.
Mobile Banking is available only to customers enrolled in Online Banking. Accounts transfers and online payments must be previously created through Online Banking. Text message charges may apply according to your mobile service provider.

 

B. Notification of Changes:

 

You will be responsible for changes in your email address for online banking and your phone number to use mobile banking. You may notify these changes anytime by calling 787.620.0000. Oriental Bank, its subsidiaries and affiliates shall not be liable for any damage caused to the mobile banking services user due to mistakes made by the service user when making any changes in email address or telephone number to use mobile banking.

 

Part V. Other Provisions

 

A. Copyright and trademark notice:

 

Except as otherwise provided, all information, images, logos, text, screens, menus, Online Banking Services charts and designs, data, databases, HTML code, JavaScripts, VBScripts, and any other literary or graphic content appearing in the Oriental Banking Services (the "Intellectual Property") are owned by Oriental Bank and/or any of its subsidiaries. Oriental Bank and each of its subsidiaries reserve all rights of ownership of all Intellectual Property, and no part of it may be downloaded, except for the use of client-server transactions such as the use of Online Banking Services, reproduced, recorded on a computer hard disk (including portable disks, CDs, Zip and other portable storage devices), modified, published, displayed, sold, used to create a derivative work or transmitted or distributed in any form or by any means, electronic or otherwise, without Oriental's express prior written consent.

 

Oriental Bank, OrientalBank.com, Oriental, Oriental Financial Group, OFG Bancorp, Oriental Bank, Oriental Financial Services, Oriental Mortgage, Oriental Auto, Financial Insurance Services Agency, Diversified Growth IRA, Investors IRA, CD IRA, IRA Exenta Garantizada, Annuity IRA, "El Banco desde su computadora ("The Bank from your computer"), "Oriental te Orienta," and all of their respective logos are trademarks and/or service marks owned by Oriental and/or any of its subsidiaries and may not be used or displayed in any manner by others without Oriental's prior written permission. All other trademarks, service marks or trade names related to the aforementioned brands Oriental Bank or to any content of the Online Banking Services, are owned by Oriental or any of its subsidiaries and may not be used or displayed in any manner by others without Oriental's prior written permission.

 

B. Availability:

 

Oriental maintains the Online Banking Services with the purpose of providing its users with information about related services to their bank accounts and other financial products, such as individual retirement accounts, or IRAs, and to facilitate transactions conducive to the purchase and tracking of such products. However, not all products described in the Online Banking Services will be available in all geographic areas and eligibility of each client will be subject to a final determination to be made on a case-by-case basis by Oriental. Under normal circumstances, the Online Banking Services will be available 24 hours a day, every day of the year. However, Oriental does not guarantee uninterrupted access to the Online Banking Services since the uninterrupted availability of the system depends on the continued operation of Oriental's internal computer system, Oriental's communication systems, and of the highspeed phone lines used by our customers, of the availability of one or more Internet access providers, the personal computer or a client's alternate access mechanism, and uninterrupted electrical service, among others.

 

C. No warranty regarding content:

 

Any information that can be accessed through the Online Banking Services must be updated regularly by Oriental. Oriental does not guarantee the truth or accuracy of the information contained in the Oriental Banking Services and assumes no obligation to update this information at any given time. Oriental is not responsible for any errors or mistakes or for any results from errors that may be discovered at any time, in the content of the Online Banking Services. Oriental makes no guarantees or representations, express, implied or statutory with respect to the information and materials contained in the Online Banking Services, as to their suitability for a particular purpose, adequacy, merchantability and absence of any computer-transmitted virus (including but not limited to, worms, malicious code, VBA scripts, Trojan Horses, remote control programs such as BackOrifice, Root Kit, etc., and other codes that could be used to affect the operation of a computer and related information management systems); provided, however, that in the event that any of the above exclusions are prohibited in certain jurisdiction, this section shall apply to persons in such jurisdiction to the maximum allowed by its laws without invalidating any of the remaining provisions of this section.

 

D. Links:

 

Links to third party websites are provided solely by reference to other sites containing information that may be of interest to our clients and visitors. However, Oriental does not necessarily endorse the opinions, ideas, and products or services offered or sold in those pages. Moreover, Oriental has no control over the content displayed or provided by any unaffiliated third party and therefore provides no guarantee regarding the content of these pages or warrant that these pages are free of viruses generated by computers or other computer programs or transmissible file that may affect the operation of the user's computer and related computer systems. Your connection to any such third-party websites is at your own risk.

 

E. Limited Liability:

 

You understand and expressly agree that under no circumstances Oriental nor its subsidiaries will be liable for any loss of income or direct, special, indirect, incidental or punitive damages, regardless of how it was caused and under any theory of liability (including negligence), arising due to the use or inability to use or access the Online Banking Services (either temporarily or permanently, or for any reason), whether or not Oriental has been warned about the possibility of the aforementioned damage, provided, however, that in the event that any of the above limitations or exclusion of liability for incidental or indirect damages are prohibited in certain jurisdiction, this section will apply to people of that jurisdiction to the extent permitted by its laws without invalidating any of the remaining provisions of this section.

 

F. Governing Law and Jurisdiction:

 

These terms and conditions, interpretation, and enforceability, as the relationship between you and Oriental will be governed by and construed in accordance with the laws of the Commonwealth of Puerto Rico or the United States Virgin Islands, depending on your place of residence, without regard to any provision of conflicts of law. Through this channel, you and Oriental hereby agree that the courts of the Commonwealth of Puerto Rico or the United States Virgin Islands, as applicable, shall have exclusive and personal jurisdiction to resolve any dispute that may arise concerning the validity, effectiveness, interpretation or performance of, or the legal relationships established by these terms and conditions or otherwise arising in relation to the use of the Online Banking Services, and for those purposes irrevocably submit to the jurisdiction of the courts of the Commonwealth of Puerto Rico or to the jurisdiction of the courts of the United States Virgin Islands, as applicable.

 

G. Communications with or to Oriental:

 

All communications regarding your account, the application of these terms and conditions or use of the Online Banking Services shall be in writing and sent to service@orientalbank.com, its message center at www.orientalbank.com, or the following address: Oriental Bank - Internet Department, PO Box 195115, San Juan, PR 00919-5115. Please remember to include your name and account number. Any email sent to the above address shall be deemed received by Oriental at the time that you receive a reply email from Oriental confirming receipt of the email, all other notices or communications will not become effective until Oriental receives them.

 

H. Entire Agreement; separability; possible modifications:

 

These terms and conditions are in addition to those that apply to any accounts you currently have with Oriental and constitute the entire agreement with Oriental and its subsidiaries in respect to all the issues involved in and related to the use of the Online Banking Services. These terms and conditions supersede any and all terms and conditions prior to or concurrent between you and Oriental and its subsidiaries, related to the use of the Oriental Banking Services. You and Oriental and agree that if any provision or clause of these terms and conditions be declared void or unenforceable, that provision will have no effect and shall be deemed not included in these terms and the remaining provisions shall remain valid and enforceable. Oriental can review and change these terms and conditions from time to time. You can review these terms and conditions at any time by accessing the "Online Banking Disclosures" section, which appears in the Online Banking Enrollment Page.

 

REGULATION E DISCLOSURES

 

All capitalized terms not defined herein shall have the meanings ascribed to such terms in the Retail Deposit Account Agreement executed by and between you and us.

 

Consumer Liability

 

Tell us AT ONCE if you believe your debit card ("Card") or your personal identification number ("PIN") has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in the account you have designated as the principal account to be used in connection with your Card (the "Designated Account") (plus your maximum overdraft line of credit). If you tell us within two (2) Business Days after you learn of the loss or theft of your Card or PIN, you can lose no more than fifty dollars ($50) if someone used your Card or PIN without your permission.

 

If you do NOT tell us within two (2) Business Days after you learn of the loss or theft of your Card or PIN, and we can prove we could have stopped someone from using your Card or PIN without your permission if you had told us, you could lose as much as five hundred dollars ($500).

 

Also, if your statement shows transfers that you did not make, including those made with your Card, your PIN or other means, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back 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 in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods stated above for a reasonable period, according to the circumstances of your case.

 

Contact in event of unauthorized transfer

 

If you believe your Card or PIN has been lost or stolen, call: 787-620-0000 (8:30 am to 5:30 pm), or write to: Oriental Bank, Attn. Banking Operations, PO Box 195115, San Juan, PR 00919-5115.

 

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.

 

Transfer types and limitations

 

1. Account access
   
   You may use your Card and PIN to:
   1. Withdraw cash from your Designated Account.
   2. Make deposits to your Designated Account.
   3. Transfer funds between your checking and savings Accounts whenever you request.
   4. Pay for purchases at places that have agreed to accept the Card or Code.

Some of these services may not be available at all terminals.

 

1. Electronic check conversion
   
   You may authorize a merchant or other payee to make a one-time electronic payment from your checking Account using information from your check to:
   1. Pay for purchases.
   2. Pay bills.
2. Limitations on dollar amounts of transfers
   1. You may withdraw up to five hundred dollars ($500) in cash from any ATM terminal each day you use the Card and Code. This limit applies separately to each individual person to whom we issue a Card and applies to each Account you may access with your Card and PIN. If on a particular day, the amount of available funds in your Accounts totals less than the daily limit, you may not withdraw more than the total of available funds on that day.
   2. Point-of-sale transfer services will cause your Designated Account to be debited for the amount of the purchase. You may make point-of-sale transfers with your Card up to the amount of available funds in your Designated Account.
3. Other Limitations

During a malfunction of an automated teller machine terminal or point-of-sale terminal, our computer system or the automated teller machine or point-of-sale system, we may limit the number, dollar amount and the types of card transactions you can make, including the types of accounts you can access with a Card (whether or not at an automated teller machine terminal or point-of-sale terminal). We may also refuse to allow a card transaction if the Card has been damaged or has deteriorated to the point where an automated teller machine terminal or point of-sale terminal can no longer process the Card.

 

For security reasons, there may be other limits on the number and dollar amount of transactions you can make with a Card (whether or not at an automated teller machine terminal or point-of sale terminal), and the number of times you can use your Card and Code, in addition to the limits that are described herein.

 

Other limitations may apply at automated teller machine terminals or point-of-sale terminals. Also, we reserve the right to block or deny certain merchant categories when you attempt to make purchases with your Card. These merchants include, but are not limited to, Internet gambling sites.

 

Fees

 

Our charges for Card Transactions and for the issuance of a replacement Card are disclosed in your Designated Account's Truth-In-Savings Act disclosures.

 

Confidentiality

 

We will discloseinformation to third parties about your Designated Account or the transfers you make:

 

1. Where it is necessary for completing transfers,
2. In order to verify the existence and condition of your Designated Account for a third party, such as a credit bureau or merchant,
3. In order to comply with government agency or court orders, or
4. If you give us your written permission.

Documentation

 

1. Terminal transfers

You can get a receipt at the time you make any transfer to or from your Designated Account using one of our automated teller machines or at the time you make any transfer from your Designated Account using a point-of-sale terminal.

 

1. Preauthorized credits

If you have arranged to have direct deposits made to your Account at least once every sixty (60) days from the same person or company, you can call us at 787-620-0000 (8:30 am to 5:30 pm) to find out whether or not the deposit has been made.

 

1. Periodic statements

You will get a monthly account statement.

 

Preauthorized payments

 

1. Right to stop payment and procedure for doing so

If you have told us in advance to make regular payments out of your Account, you can stop any of these payments. Here's how:
Call us at 787-620-0000 (8:30 am to 5:30 pm), or write us at Oriental Bank, Attn. Banking Operations, PO Box 195115, San Juan, PR 00919-5115, in time for us to receive your request three (3) Business Days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call. We will charge you $15.00 for each stop-payment order you give.

 

1. Notice of varying amounts

If these regular payments may vary in amount, the person or company you are going to pay will tell you, ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

 

1. Liability for failure to stop payment of preauthorized transfer

If you order us to stop one of these payments three (3) Business Days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
Financial institution's liability
If we do not complete a transfer to or from your Account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

 

1. If, through no fault of ours, you do not have enough money in your Account to make the transfer.
2. If the transfer would go over the credit limit on your overdraft line, if any.
3. If the automated teller machine where you are making the transfer does not have enough cash.
4. If the automated teller machine or point-of-sale terminal and/or the system was not working properly, and you knew about the breakdown when you started the transfer.
5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
6. There may be other exceptions stated in the Retail Deposit Account Agreement executed by and between you and us.

Error resolution

 

In Case of Errors or Questions About Your Electronic Transfers Telephone us at 787-620-0000 (8:30 am to 5:30 pm) or Write us at Oriental Bank, Attn. Banking Operations, PO Box 195115, San Juan, PR 00919-5115, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared.

 

(1) Tell us your name and Account number (if any).
(2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.
(3) Tell us the dollar amount of the suspected error.

 

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) Business Days.

 

We will determine whether an error occurred within ten (10) Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty five (45) days to investigate your complaint or question. If we decide to do this, we will 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. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) Business Days, we may not credit your account.

 

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new accounts, we may take up to twenty (20) Business Days to credit your account for the amount you think is in error.
We will tell you the results within three (3) Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

 

ATM fees

 

When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used, and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer.