This Agreement provides information about Banco Mercantil Venezolano N.V. Online Banking and sets forth the terms and conditions governing your use of Online Banking as offered by Banco Mercantil Venezolano N.V. Please read this Agreement carefully and keep a copy for your records.
Your deposit accounts are governed by the terms
and conditions set forth in the Bank's Understanding Your Deposit Account
rights and responsibilities under the Electronic Funds Transfer Act are
set forth in the Bank's Electronic Funds Transfer Disclosure (the "EFT
Disclosure") . Before initializing your first Online Banking transaction,
please refer to and familiarize yourself with the information contained in
the EFT Disclosure.
Your initial use of Online Banking constitutes your acceptance of and agreement to be bound by all of the terms and conditions of this Agreement and acknowledges your receipt and understanding of this Agreement. It also constitutes your acknowledgement that the deposit accounts you access through Online Banking are governed, additionally, by applicable laws and regulations, by the Bank's Schedule of Service Charges, and by all terms and conditions contained or referred to in your account-opening documents (together with this Agreement, the Bank's Schedule of Service Charges, and the EFT disclosure, the "Governing Documents"), as each may be modified from time to time. You are responsible for paying any fees associated with Online Banking as derived in this Agreement and other Governing Documents as well as any additional fees that may be assessed by your Internet Service Provider and any telephone charges or fees incurred by accessing Online Banking.
This Agreement is intended to cover all services offered now or in the future through Banco Mercantil Venezolano N.V. Online.
the purpose of this Agreement "you" and "your" shall refer to each
depositor who signs up for Banco Mercantil Venezolano N.V., Our"
us we", or "Bank" shall refer to Banco Mercantil Venezolano N.V. "Business day"
is defined as Monday through Friday excluding Public holidays. All references
to time of day in this Agreement refer to Eastern Standard
Banco Mercantil Venezolano N.V. Online Service
Banco Mercantil Venezolano N.V. Online is a consumer
electronic banking service. You may access Banco Mercantil Venezolano
N.V. Online through the Bank's web page on the Internet
using a personal computer (PC). You may use Banco Mercantil Venezolano N.V. Online virtually
any time, day or night, 7 days a week. To
utilize the Online Banking Services the client must enter an Access ID and password
and at all times comply with the system's security procedures. It
is important to note that it may take us up to two business
days to activate the system for you after you access Banco Mercantil
Venezolano N.V. Online.
Venezolano N.V. Online allows you to:
Access deposit accounts which you own (either
individually or jointly with others) and from which you have an
unrestricted right to withdraw funds, view account balances, review transaction
histories, and obtain current interest rates, maturity dates, and other
- Obtain information about the current status of most
loan accounts (such as mortgages, equity lines of credit, and consumer
installment loans) on which you are an obligor (either individually or
jointly with others).
- Transfer funds between deposit accounts.
Requirements for Online
Each person who wishes to use Banco Mercantil
Venezolano N.V. Online must register for the Online Banking services in
his own name and must select an Access ID and password to access his
accounts. Browser software, and at least one deposit account at Banco Mercantil
Venezolano N.V. , are also required.
You are responsible for the installation, maintenance, and operation
of your computer and your browser software. The risk of error, failure, or
non-performance is your risk and includes the risk that you do
not operate your computer or your software properly and the risk of any
malfunction of your computer or software.
Transfers Between Accounts
You may designate eligible Banco Mercantil Venezolano
N.V. personal checking, savings or maxima accounts between which you can
transfer funds electronically using Banco Mercantil Venezolano N.V.
Online. You must be an owner of and
have the unrestricted right of withdrawal from all accounts to
or from which you request a transfer. We reserve the
right to deny transfers between certain types of accounts
under certain circumstances, in our discretion. Transfers are not available
from credit accounts directly to deposit accounts, or vice versa. Non-personal accounts may
not be accessed through Banco Mercantil Venezolano N.V. Online. Upon completion
of a transaction using Banco Mercantil Venezolano N.V. Online, a
confirmation number will be given. You should record this
number, along with the payee, date and transaction amount in
your account register (or other permanent record), because this will help in resolving any problems
that may occur. No printed receipts are issued through Banco Mercantil
Venezolano N.V. Online.
Availability of Transfers
When making a transfer, funds must be available for withdrawal in the
account from which you want to make the transfer on the date
the transfer is to take place. Transfers made through Banco Mercantil
Venezolano N.V. Online before the 6:00 p.m. will be available in the Banco
Mercantil Venezolano N.V. account to which the funds are transferred for payment
of items presented through collection, over the teller line or for cash
withdrawal no later than the following business day. Transfers made after
6:00 p.m., or on a weekend or legal holiday, will be processed at the
closing of the following business day.
When you use Banco
Mercantil Venezolano N.V. Online, you must have sufficient funds available in
the selected account (including available overdraft protection coverage, if applicable) to cover
the amount of the transfers you order and any
associated overdraft protection fees. We may pay transactions that exceed
your available balance, but we are not obligated to do
so. If we do, you agree to immediately pay the overdraft and
any fees incurred. We may discontinue permitting overdrafts at any time,
without prior notice. The amounts of the fees are set forth in the
Bank's Schedule of Service Charges. The Bank is under no obligation to
notify you if it does not complete a transfer because there
are insufficient funds in your account to process a
authorize us to charge your designated account(s) for any
transactions accomplished through the use of Banco Mercantil Venezolano N.V.
Online, including the amount of transfer that you make, and any charges for
the service. You authorize us to transfer funds according to
the instructions we receive if the instructions are received from you through
Banco Mercantil Venezolano N.V. Online. You authorize us to initiate any reversing
entry or reversing file, and to debit your accounts at Banco Mercantil
Venezlano N.V. or elsewhere, in order to correct any mistaken credit
We strive to
provide complete, accurate and timely account information through Banco
Mercantil Venezolano N.V. Online Banking. However, unless otherwise
required by law or in the case of gross negligence which can be attributed
to Banco Mercantil Venezolano N.V., we will not be liable to you if any
such information is unavailable, delayed or inaccurate. With respect to
electronic funds transfer problems, such as unauthorized transfers or the
Bank's failure to properly complete authorized transfers, the extent of
our liability is outlined in the Bank's Electronic Funds Transfer
The stop payment feature of Banco Mercantil Venezolano N.V.
Online is designed to allow you to submit an electronic request to stop
payment on checks you have written. Stop payments are valid for 180 days.
A charge will be assessed against your account in accordance with
the Bank's then current Schedule of Service Charges.
Banco Mercantil Venezolano N.V. Online
will be subject to such service and maintenance charges as the
Bank adopts from time to time. The charges will be deducted
from your account and will be set forth on your statement of account. A
Schedule of Service Charges may be obtained from the Bank.
Security is very important to the Banco
Mercantil Venezolano N.V. Online Banking system. At the time you
request the service, you will select a unique Access ID and
password to gain access to the system. Prior to activation,
we will verify your identity and authorization to information
associated with the accounts you requested tied to a service. Once
you establish a password, the Bank is entitled to act on
instructions received through Banco Mercantil Venezolano N.V. Online through the
password without inquiring into the identity of the person using the password, and
any such instructions will be effective to bind you,
whether or not you actually sent them yourself or authorized someone else
to do so.
Your password is confidential and should not be
disclosed to third parties. You are responsible for the safekeeping of the
password and should not share it with anyone not authorized to sign on
your accounts. To change your password, or if you forget your password,
call us at (305) 629-1362. You must notify us at once, by calling this
telephone number or writing to our Operations Department at 3105 NW 107th
Avenue, Miami, Florida 33172, in the event your password has been lost, stolen,
other otherwise compromised.
For information about the security measures employed in
connection with Banco Mercantil Venezolano N.V. Online, please refer to
our Security Disclosure.
You agree that the security
procedures described in this Agreement are commercially
reasonable methods of providing security against unauthorized Online Banking transactions, in
light of your circumstances. You have freely and voluntarily chosen to
execute transactions in your account(s) though Banco Mercantil Venezolano N.V. Online,
even though the Bank offers other means of executing such
transactions that offer varying degrees of security. You assume
all risks associated with these security procedures and all damages, costs,
expenses, losses and liabilities resulting from any failures of such
Because electronic mail (e-mail) transactions may not
be secure, the Bank requests that you do not send us or ask for sensitive
information by e-mail. In particular, we ask that you do not e-mail us any
inquiries, requests, instructions, notices, or other communications
regarding your accounts, electronic funds transfers, or other matters
regarding Online Banking services. The Bank will not be responsible for
taking any action in response to any e-mailed communication, and no
e-mailed communication will be effective against the Bank for any purpose.
If you need to contact us to report an unauthorized
transaction involving one of your accounts or for any other urgent
reason, please call us immediately at (305) 629-1362. This will enable us to evaluate the situation and take
appropriate action on a timely basis.
The Bank has the right to modify or
terminate this Agreement at any time. We will comply with
any notice requirements under applicable law for such changes or termination.
If we terminate this Agreement, no further Online Banking transfers
will be made, including but not limited to any transfers scheduled in
advance or any pre-authorized recurring transfers. If we
modify this Agreement, your continued use of the modification will constitute
your acceptance of such modification in each instance.
Limitations on the Bank's
The Bank agrees to make reasonable efforts to ensure
full performance of Banco Mercantil Venezolano N.V. Online. We will be
responsible for acting only on those instructions sent through Banco
Mercantil Venezolano N.V. Online that are actually received. We cannot
assume responsibility for computer malfunctions or malfunctions in
communications facilities not under our control that affect the accuracy
or timeliness of the messages you send. The Bank is not responsible for
any losses or delays in transmission of instructions arising out of the
use of any Internet service provider or caused by any browser software. Additionally, we are
not responsible if you give us incorrect instructions or your instructions
are not given sufficiently in advance to allow
for timely processing or delays in mail service.
The Bank is not responsible for any computer virus or
related problems which may be attributable to the use of the
Internet. We encourage our customers to routinely scan their
PC, CDs and diskettes using a reliable virus product
to detect or remove any viruses.
Except as otherwise provided by the governing law and/or in this Agreement
and in the absence of gross negligence on the part of
the Bank: (a) we are not responsible for any
direct, indirect, special, incidental or consequential damages arising in any way out
of the use of Banco Mercantil Venezolano N.V. Online; (b) our entire liability
and your exclusive remedy with respect to the use of Banco Mercantil
Venezolano N.V. Online will be the replacement of any
browser or software provided by the Bank to use
for Online Banking that is found to be defective; (c) you agree
to indemnify the Bank and hold it harmless against
any direct, indirect, special, incidental or consequential damages arising in
any way out of the use of Banco Mercantil Venezolano
N.V. Online; and (d) our liability is limited to actual suffered
You agree to receive
the EFT Disclosure and other communications regarding Online Banking
and your accounts electronically and will not attempt to
circumvent receiving any communications. You are deemed to have
received any electronic communications sent to you when they are made
available to you. You may print a copy of such communications
using the "print" function, or you may request that the Bank mail you
a "hard copy" of the communications by contacting us at the address
or telephone number provided in the Security Procedures section of
By signing up for Online Banking services, you
agree that the Bank reserves the right to request a review
of your credit rating through an authorized consumer-reporting agency. In addition,
you agree that the Bank reserves the right to obtain
financial information regarding your account from a merchant, financial institution or consumer
reporting agency to resolve any payment posting problems.
the event that any one or more of the provisions of this Agreement is for
any reason held to be invalid, illegal, or unenforceable, the
remaining provisions will remain valid and enforceable.
Governing Law. This Agreement is governed by
the laws of the Netherlands Antilles. Any issue relating to an account or
service accessed through Banco Mercantil Venezolano N.V. Online will be
governed by the law specified in the agreement for that account or
service, if there is a separate agreement for that account or service. YOU
AND THE BANK EACH IRROVACABLY WAIVE THE RIGHT TO A JURY TRIAL,IN SO FAR
THERE EXIST THE POSSIBILITY WITHIN THE SYSTEM OF THE GOVERNING LAW, IN
CONNECTION WITH ANY DISPUTE ARISING FROM OR RELATING TO THIS AGREEMENT OR
THE USE OF BANCO MERCANTIL VENEZOLANO N.V. ONLINE.
You acknowledge receipt of a copy of this Banco Mercantil Venezolano N.V. Online Agreement on today's date.