1. Coverage. This Agreement applies to your use of Basic Business Online Banking ("Online Banking"), which permits you to access your accounts with Watertown Savings Bank via the Internet for various banking services. This Agreement applies to all persons that are parties to the accounts. In this Agreement, the terms "you" and "your" refer to each depositor on an account accessible by Basic Business Online Banking, and the terms "us," "we," and "our" refer to Watertown Savings Bank. Terms and conditions for bill payment services are covered under a separate e-pay service agreement.



2. Enrollment. To enroll in Basic Business Online Banking, you will need to evidence your agreement with the terms of this Agreement by clicking AGREE below. You will then be asked to identify yourself and select an access ID, password and passmark image and phrase. Once you have completed these steps, you will be enrolled in Basic Business Online Banking and have access to the services offered by us. All information is kept strictly confidential and is not released to non-related third party entities. Please refer to our Privacy Notice for information.



3. Your Responsibility. You are responsible for selecting all software, hardware and your Internet service provider and for any defect, malfunction or interruption in service or security due to hardware or software failure or your choice of an Internet service provider.



4. Password. As part of our enrollment process, you will be required to select a password ("Password") to access services using Basic Business Online Banking. Your Password has the same effect as your signature authorizing transactions. You agree to safely keep your Password, not to record your Password or otherwise disclose or make your Password available to anyone other than authorized users of your accounts. Anyone to whom you disclose your Password and anyone who has access to your Password will have full access to the services you can perform with Basic Business Online Banking, including full access to your accounts. You have no ability to limit any such person's authority. If anyone uses your Password with your permission, you will be responsible for any transactions performed by that person.



5. Customer Liability. Tell us AT ONCE if you believe your Password has been lost, stolen or otherwise become available to an unauthorized person. Telephoning is the best way of minimizing your losses. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days of the date we mail or e-mail a periodic statement to you, you may not get any money you lost if we show that we could have stopped someone from taking the money if you would have told us in time.



6. Contact in Event of Unauthorized Transfer. If you believe your Password has been lost or stolen or your passmark image or phrase has been tampered with or that someone has transferred or may transfer money from your account without your permission: call us toll free at 800-207-2525 Monday through Friday during the hours of 9 am to 3 pm; write Watertown Savings Bank, 60 Main Street, Watertown, MA 02472, Attention: Internet Banking Support; or e-mail us at support@watertownsavings.com.


IMPORTANT: E-mail is generally not a secure form of communication. Please do not include account number or social security information in this correspondence.


7. Services. Using Basic Business Online Banking, you can:
   • view account information
   • transfer funds between your Qualified Accounts
   • schedule a recurring or future transfer between your Qualified Accounts
   • transfer funds from your Equity Account (home equity line) to a Qualified Account
   • make payments out of your Qualified Accounts to your loan accounts
   • schedule monthly payments out of your Qualified Accounts to your loan accounts
   (The term "Qualified Accounts" means any checking account or any statement savings account. Subject to available funds, you may transfer funds through Basic Business Online Banking in any amount.)



8. Business Days. Our business days are Monday through Friday, excluding Saturdays, Sundays and Holidays, even if the Bank or any branch is open all or part of such days.



9. Processing Your Funds Transfer. We will process a funds transfer on the same business day as your instructions if we receive your instructions before our Online Banking cut-off hour of 7:00 p.m. (the "Cut-Off Hour") on a business day. If we receive your instruction after the Cut-Off Hour of a business day, we will process the transaction no later than the Cut-Off Hour of our next business day. If you schedule a funds transfer for a future date, we will process the transaction on that date if that day is a business day. If the date you request for a future transfer is not a business day, we will process the transaction no later than the Cut-Off Hour of the next business day. If you schedule a recurring funds transfer and the payment date does not exist in a month, the payment will be processed on the last business day of that month.



10. Cancelling Funds Transfers. You may cancel or change a scheduled funds transfer by selecting and accurately completing the appropriate fields from the payment menu. Any instruction to cancel or change a funds transfer must be made by the Cut-Off Hour of the business day prior to the date the transaction is to be processed. If you do not accurately complete the appropriate instructions prior to that time, the transaction will be processed.



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



12. Limitations on Transfers. Under federal regulations, you may make no more than six preauthorized electronic funds transfers and telephone transfers, including Basic Business Online Banking transactions, checks and point-of-sale transactions per month from your savings or money market deposit account. Of these six transactions, you are limited to no more than three transactions per month by check, draft, debit card or similar order to third parties. Each funds transfer through Basic Business Online Banking from your savings or money market deposit account is counted as one of the six limited transfers you are permitted each month. However, payments to your loan accounts with us are not counted toward this limit for savings and money market deposit accounts.



13. Fees. There is no charge to use Basic Business Online Banking or to make transfers between accounts. There may be a monthly fee to use bill payment service depending on your choice of checking account. This information may be found in our regular schedule of fees and charges.



14. Periodic Statements. Your Online Banking account activity will appear on your periodic account statement. Periodic Statements do not apply to Passbook Savings Account Customers.



15. Our Liability for Failure to Make Transfers. If you have given us all of the proper and timely instructions and have properly completed all fields to complete a transfer, and we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, subject to the limitations contained in this Agreement, we will be liable for your losses or damages proximately caused by our failure. However, there are some exceptions. We will not be liable to you if, among other things:
    • through no fault of ours, you do not have enough money in your account to make the transfer.
    • the transfer would go over the credit limit on your overdraft line.
    • circumstances beyond our control (such as communications, electronic or computer system failure, fire or flood) prevent the transfer or use of Basic Business Online Banking, despite reasonable precautions that we have taken.
    • you have not properly followed the instructions for using Basic Business Online Banking.
    • your operating system is not properly installed or functioning properly.
    • the failure resulted from any malfunctions of your browser, Internet service provider or computer, computer virus or other problems relating to the computer equipment you use with Basic Business Online Banking, including, without limitation, your inability to access Basic Business Online Banking or any part of Basic Business Online Banking.
    • the failure was the result of inaccessibility to Basic Business Online Banking due to Basic Business Online Banking system failure.
    
    Notwithstanding any other provision in this agreement, unless otherwise prohibited by law, our sole responsibility for an error by us or third party provider in transferring funds will be to correct the error, but in no case will the bank be liable for any indirect, special, incidental or consequential damages in connection with or in any way related to online banking.



16. Alerts/Messages. Internet banking alerts allow you to set up automated alert events based on your own criteria to be alerted upon. Alerts may be sent via e-mail or in an online message box within Internet banking, or both. E-mail alerts will be sent to the e-mail address you provide in creating the alert.
• The Bank may add or remove types of alerts from time to time.
• If you change your e-mail address you are responsible for changing this in the alerts you have already set up.
• You agree that alerts may be delayed or prevented for a variety of reasons.
• We do not guarantee the delivery or validity of the contents of any alert.
• You agree that we shall not be liable for any actions taken or not taken by you or anyone else in reliance of an alert.
• The Bank will never include your password or full account number in an e-mail alert; however you understand that alerts may include your name and some information about your accounts.
• Unfulfilled events (events that do not happen) will only remain on the system for 999 days. You will not be notified when they are removed.
• Distributed events (events that have happened and have been viewed) will remain on the system for 30 days.



17. Account Information Disclosure. The circumstances under which we may provide information about your accounts to third parties are set forth in our current Privacy Notice posted on this website.



18. Termination. We may modify, suspend or terminate your privilege of using Basic Business Online Banking and may withhold approval of any transaction, at any time, without prior notice to you. In the event we terminate Basic Business Online Banking, we will try to notify you in advance but are not required to do so. You will be notified as soon as practicable. Any one person who can use the account accessible with Basic Business Online Banking may terminate Basic Business Online Banking. Termination shall not affect the rights and obligations of the parties for transactions made with Basic Business Online Banking before we have had a reasonable time to respond to your termination request. Your termination of Basic Business Online Banking will automatically terminate any pending transfers and payments.



19. Third Parties. You understand that support and services relating to Basic Business Online Banking are provided by third parties other than us, and you authorize us to contract with third parties to provide such support and service. We provide free online bill pay services through a third-party vendor called Checkfree. Please refer to their Terms and Conditions to review your rights and responsibilities regarding online bill payments.



20. Amendment. We may amend this Agreement at any time. Notice will be sent to you at your current address in our files. Amendments will be effective upon the date indicated in the notice.



21. Limitation on our Liability. UNLESS OTHERWISE REQUIRED BY LAW, WE WILL NOT BE RESPONSIBLE FOR ANY LOSSES OR DAMAGES FROM THE USE OF THE SERVICES DESCRIBED IN THIS DISCLOSURE STATEMENT AND THE SERVICE AGREEMENT, INCLUDING DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSSES OR DAMAGES. WE WILL NOT BE RESPONSIBLE FOR ANY LOSSES OR DAMAGES FROM THE USE OF THE SOFTWARE OR THE EQUIPMENT YOU USE TO ACCESS THE SERVICE INCLUDING DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSSES OR DAMAGES. WE WILL NOT BE RESPONSIBLE FOR ANY LOSSES OR DAMAGES BECAUSE OF A FAILURE OR DELAY IN THE DELIVERY OR PROCESSING OF ANY PAYMENT INCLUDING DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSSES OR DAMAGES. WE WILL ALSO NOT BE RESPONSIBLE FOR ANY TRANSFER OF FUNDS THE PRIMARY PURPOSE OF WHICH IS THE PURCHASE OR SALE OF SECURITIES OR COMMODITIES REGULATED BY THE SECURITIES AND EXCHANGE COMMISSION OR THE COMMODITY FUTURES TRADING COMMISSION.



22. Our Business Customers. If you are not using the Service primarily for personal, family or household purposes, sections 5,6,15 and 16 of this agreement do not apply to you. In addition, you agree that you are responsible for all payments and transfers made using your Password even if you claim you never requested or received a Password or if the person using your Password was not authorized by you to do so.



23. Severability. If any provision of this Agreement is held invalid, illegal, void or unenforceable by any rule or law, administrative order or judicial decision, all other provisions of the Agreement shall remain in full force.



24. Governing Law. This agreement is governed by and shall be constructed in accordance with the State laws of Massachusetts and applicable federal law.

Attention: Internet Banking Support
Watertown Savings Bank
60 Main Street
Watertown, MA 02472

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.