This Online Service E-Sign Disclosure and Consent (“ Agreement”) allows us to provide you with electronic versions of important notices and statements for those products, services, and Accounts offered through our Online Services, or a mobile application or mobile website used to access our Online Services. Certain laws and regulations require us to provide notices and disclosures to you in “writing”, which means you are entitled to receive it on paper. We may provide this information to you electronically, instead, with your prior consent. We also need your general consent to use electronic records and signatures in our relationship with you. So, before you use our Online Services you must review and consent to the terms outlined below.
In this consent:
" We," " us," " our," and " Alerus" means Alerus Financial, National Association, and each and every current and future affiliate of Alerus.
“ You” and “ your” means the person giving this consent, and also each additional account owner, authorized signer, authorized representative, delegate, product owner and/or service user identified on any Alerus Product that you apply for, use or access.
“ Access Device” means any electronic device you use to access Online Services or view electronic documents. This includes (without limitation): desktop or laptop computers, or mobile devices such as tablets or smartphones.
“ Account” means the account(s) you have with us now or in the future, including ones which you open through Online Services.
“ Alerus Product” means each and every account, product or service we offer that you apply for, own, use, administer or access, either now or in the future. Alerus Products include Online Services.
“ Communications” means each disclosure, notice, agreement, fee schedule, statement, record, document, and other information we provide to you, or that you sign or submit or agree to at our request.
“ Online Services” means each and every product and service we offer that you apply for, use, administer or access using the Internet, a website, email, messaging services (including text messaging) and/or software applications (including applications for mobile or hand-held devices), either now or in the future.
The words “include" and "including," when used at the beginning of a list of one or more items, indicates that the list contains examples – the list is not exclusive or exhaustive, and the items in the list are only illustrations. They are not the only possible items that could appear in the list.
1. Your consent to use electronic records and signatures; Choosing to receive Communications electronically or in writing; Certain information must still be provided in writing.
In our sole discretion, the Communications we provide to you, or that you sign or agree to at our request, may be in electronic form (“ Electronic Records”). We may also use electronic signatures and obtain them from you as part of our transactions with you. Your consent to receive Communications in electronic form includes, but is not limited to:
· All legal and regulatory disclosures and communications associated with the Account or the Online Services (for example, legally required notification of changes to terms and conditions related to your Account(s) or the Online Services.
· Notices or disclosures about a change in the terms of your Account or associated payment feature and responses to claims.
· Monthly (or other periodic) billing or account statements for your Accounts(s) or such other Communications we may include from time to time as part of the enrollment in electronic delivery.
Electronic Records may be delivered to you in a variety of ways. These various delivery methods are described in this Agreement and in other agreements we may have with you from time to time. In some cases, you will be able to choose whether to receive certain Communications electronically, or on paper, or both. We will provide you with instructions on how to make those choices when they are available.
We may always, in our sole discretion, provide you with any Communication in writing, even if you have chosen to receive it electronically.
Sometimes the law, or our agreement with you, requires you to give us a written notice. You must still provide these notices to us on paper, unless we specifically tell you in another Communication how you may deliver that notice to us electronically.
There are certain Communications that by law we are not permitted to deliver to you electronically, even with your consent. So long as required by law, we will continue to deliver those Communications to you in writing. However, if the law changes in the future and permits any of those Communications to be delivered as Electronic Records, this consent will automatically cover those Communications as well.
We will continue to provide your tax statements on paper unless you separately elect to receive them electronically (if available).
2. Your option to receive paper copies.
If we provide Electronic Records to you, and you want a paper copy, you may contact the appropriate customer service unit and request a paper version. You will find the appropriate contact information in the account statement or agreement for the Alerus Product related to the Electronic Record. You may have to pay a fee for the paper copy unless charging a fee is prohibited by applicable law. Please refer to the applicable agreement for any fee that may apply for paper copies.
3. Your consent covers all Alerus Products; Privacy Policies.
Your consent covers all Communications relating to any Alerus Product. Your consent remains in effect until you give us notice that you are withdrawing it.
From time to time, you may seek to obtain a new Alerus Product from us. When you do, we may remind you that you have already given us your consent to use Electronic Records and signatures. If you decide not to use Electronic Records and signatures in connection with the new product or service, your decision does not mean you have withdrawn this consent for any other Alerus Product.
You agree that we may satisfy our obligation to provide you with an annual copy of our Privacy Policy by keeping it available for review on www.alerus.com, or, with prior notice to you, on another website where we offer Online Services.
4. You may withdraw your consent at any time; Consequences of withdrawing consent; How to give notice of withdrawal.
You have the right to withdraw your consent at any time. Please be aware, however, that withdrawal of consent may result in the termination of:
Your withdrawal of consent will become effective after we have had a reasonable opportunity to act upon it.
If you are receiving online account statements, the termination will cause paper statements to be mailed to you via the U.S. Postal Service or other courier. Depending on the specific Alerus Product, if you withdraw consent we may charge higher or additional fees for that product or for services related to it. Please refer to the applicable agreement for any fee that may apply.
To withdraw your consent, you must contact us at 833-325-3787
5. You must keep your email or electronic address current with us.
You must promptly notify us of any change in your email or other electronic address. You may change the email address on record for you by going to the Account Services page within your online service and updating your contact information. If you have given us another type of electronic address, such as an electronic address or mobile phone number for SMS text messages, you may change that address by going to the account management page for each Alerus Product you have linked to that address. There may be other, special Alerus Products for which we provide separate instructions to update your email or other electronic address.
6. Hardware and software you will need.
To access Online Services and Electronic Records on a traditional computer, you will need:
· A computer with certain browsers that are up-to-date, have a high security standard, and are compatible with and supported by your operating system.
· An internet connection with an internet browser that is up-to-date, has a high security standard and is compatible with and supported by your operating system.
· Sufficient electronic storage capacity on your computer's hard drive or other data storage unit, or a printer, if you wish to print or retain any electronic documents.
· An e-mail account with an internet service provider and e-mail software
· Software that accurately reads and displays .pdf files (such as a current version of Adobe Reader)
To access Online Services and Electronic Records on a mobile device, you will need:
· A mobile device with any of the following operating systems: Android or iOS
· To access Online Services and Electronic Records at www.alerus.com, a mobile browser that is compatible with and supported by your operating system (such as Chrome or Safari).
· To access Online Services and Electronic Records through one of our mobile applications, you will need to download the applicable Alerus application at your respective app store.
· If you wish to view .pdf files on your mobile device, software that accurately reads and displays .pdf files (such as the mobile version of Adobe Reader).
You should check these terms occasionally for updates on supported software. From time to time, we may offer services or features that require that your internet browser be configured in a particular way, such as permitting the use of JavaScript or cookies. If we detect that your internet browser is not properly configured, we will provide you with a notice and advice on how to update your configuration.
We reserve the right to discontinue support of a current version of software if, in our sole opinion, it suffers from a security flaw or other flaw that makes it unsuitable for use with Online Services.
7. Changes to hardware or software requirements.
If our hardware or software requirements change, and that change would create a material risk that you would not be able to access or retain your Electronic Records, we will give you notice of the revised hardware or software requirements. Continuing to use Online Services after receiving notice of the change is reaffirmation of your consent.
8. Multiple Access Devices.
Your acceptance of this agreement on one Access Device constitutes your acceptance on all Access Devices you use. For example, if you view and accept this agreement on a tablet, the terms of this Agreement will apply to Online Services and Electronic Records accessed on a desktop computer (or vice versa).
Additionally, by viewing and accepting this agreement on any Access Device, you are reasonably demonstrating your ability to access Online Services and view Electronic Records in the format that the services are provided on that Access Device, and all subsequent Access Devices. If you change Access Devices (or use multiple Access Devices), it is your responsibility to ensure the new Access Device meets the applicable system requirements and that you are still able to access Online Services and view Electronic Records on the subsequent Access Device. Your continued use of Online Services on other Access Devices is your reaffirmation of this Agreement.
9. Your enrollment in Online Services using our equipment.
If you enroll for an Online Service through one of our customer service representatives, or using our equipment, your enrollment may not be complete until you take additional action. We will advise you, at the time of your enrollment, of any additional action you must take. If you take the required action, it is an affirmation of your consent to use electronic records and signatures under the terms of this E-SIGN Consent.
10. Communications in languages other than English.
Please note, we may be unable to fulfill and service Alerus products or services in a language other than English. Future Communications may be in English only. If you are not fluent in English, you should consider obtaining the services of an interpreter or taking other steps to ensure you understand the transaction before entering into it and to explain any future Communications in English.
By providing your consent, you are also confirming that you have the hardware and software described above, that you are able to receive and review electronic records, and that you have an active email account. You are also confirming that you are authorized to, and do, consent on behalf of all the other account owners, authorized signers, authorized representatives, delegates, product owners and/or service users identified with your Alerus Products.
These Terms of Use (“Terms”) apply to and govern the use of all services and functions (“Services”) available within “My Alerus”, provided by Alerus Financial, National Association (“Alerus”, “Bank”, “Us”, “We”, or “Our”) at alerus.com and/or alerusrb.com (individually and collectively, the “Site”). The Terms are in addition to all other agreements applicable to any other product or service provided by Alerus to you. These Terms should be read carefully as they exclude or limit our liability and set forth the terms and conditions that apply to your use of the Site. “You” and “your” refer to any person who accesses or uses the Site or Services. By using the Site, you agree to be bound by the Terms below. If, at any time, any of the Terms are not acceptable to you or if you do not agree to be bound by these Terms, please discontinue your use of the Site.
These Terms consist of the following nine sections:
NON-DEPOSIT INVESTMENT PRODUCTS, INSURANCE, AND SECURITIES ARE NOT DEPOSITS OR OBLIGATIONS OF, OR INSURED OR GUARANTEED BY, ALERUS OR ANY BANK OR AFFILIATE, ARE NOT INSURED BY THE FDIC OR ANY AGENCY OF THE GOVERNMENT; AND INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF SOME OR THE ENTIRE PRINCIPAL AMOUNT INVESTED. ALERUS DOES NOT GIVE TAX OR LEGAL ADVICE. CONSULT WITH YOUR TAX AND/OR LEGAL ADVISOR FOR INFORMATION SPECIFIC TO YOUR SITUATION.
GENERAL TERMS AND CONDITIONS
Alerus is committed to protecting the security and confidentiality of all client account information. We use several different methods to ensure this security and protect your account information. With respect to accessing the Site, please know the following:
We urge you to take measures to protect your account information. You will create a unique username and password that will give you initial access to your accounts through the Site. You can change your password on the Site.
You can use your username along with your password to access the Services. You are responsible for all transactions and other activities that occur or are undertaken using your username and password, including, without limitation, those transactions and activities taken by anyone using the Site after logging in with your username and password. We have no responsibility for establishing the identity of any person or determining the validity of any activity received using your username and password. You are responsible for keeping your username, password, and account information confidential and for ensuring that you have logged out of the Site when your session is complete to prevent unauthorized persons from using the Site. You agree that you will be the only user of your username and password, that you will not transfer or disclose any of this information to any other person, and that you will be responsible for all usage of any Services on the Site and any fees associated with the use of other services accessed through the Site whether or not authorized by you.
You are responsible for changing your password regularly. We are entitled to act on instructions received under your password. For your protection, we recommend that you select a unique username and password combination, and memorize your username and password; do not write them down.
You agree to immediately notify Alerus of any actual or suspected unauthorized use of your username or password. You also agree to notify us immediately if you suspect that your username or password is lost or stolen. Please contact us at 800.279.3200.
The Site is available 24 hours a day, seven days a week, except during special maintenance periods. Information provided will be as of the end of the prior business day. We cannot guarantee that Services will always be available as a result of occasional emergency situations or scheduled maintenance. We agree to post notice of any extended period of non-availability on the Site. Certain deadlines or cutoff times may be applicable to specific aspects of the Services.
We may change these Terms at any time by adding new terms or by modifying or deleting existing ones. If we are required to notify you of a modification to these Terms, we will describe the modification and its effective date by a message within your account statement or any other appropriate means. The most current version of the Terms is always available to you on the Site. By continuing to use the Services after any change to these Terms, including accessing the Site, you agree to be bound by the then applicable Terms. Changes to fees or specific terms of accounts are governed by the specific agreement governing that account.
You agree that we can terminate the Services, with or without cause, without prior notice.
Alerus will perform the Services using our best efforts. By using the Services, you agree that we are not responsible for errors, acts or failures of others, including, without limitation, banks, communications carriers, third party service providers, employers, or clearinghouses through which we receive or transmit information, and no such entity shall be deemed our agent. We are also not responsible for any loss, liability or delay caused by fires, earthquakes, wars, civil disturbances, power surges or failures, acts of government, labor disputes, failures in communications networks, legal constraints, cyber events, or other events beyond our control.
IN NO EVENT WILL ALERUS OR ANY OF ITS OFFICERS, DIRECTORS, SHAREHOLDERS, PARENTS, SUBSIDIARIES, AFFILIATES, AGENTS, LICENSORS, OR THIRD PARTY SERVICE PROVIDERS BE LIABLE FOR ANY CONSEQUENTIAL (INCLUDING WITHOUT LIMITATION, LOSS OF DATA, FILES, PROFIT OR GOODWILL OR THE COSTS OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES), INCIDENTAL, SPECIAL, PUNITIVE OR INDIRECT LOSSES OR DAMAGES WHETHER OR NOT ANY CLAIM FOR SUCH DAMAGES IS BASED ON NEGLIGENCE, CONTRACT OR ANY OTHER THEORY, ARISING OUT OF OR IN CONNECTION WITH THESE TERMS, THE SERVICE, THE INABILITY TO USE THE SERVICE OR THOSE RESULTING FROM ANY MERCHANDISE OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
THE SERVICES ARE OFFERED ON AN "AS IS," "WHERE IS" AND "WHERE AVAILABLE" BASIS, WITH NO WARRANTY OF ANY KIND-WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THIS DOES NOT AFFECT THOSE WARRANTIES THAT ARE INCAPABLE OF EXCLUSION, RESTRICTION OR MODIFICATION UNDER THE LAWS APPLICABLE TO THESE TERMS.
YOU ACKNOWLEDGE THAT NEITHER ALERUS, ITS AFFILIATES NOR ANY OF THEIR RESPECTIVE EMPLOYEES, AGENTS, CONTRACTORS, THIRD PARTY CONTENT PROVIDERS OR LICENSORS WARRANT THAT THE SERVICES OR THE SITE WILL BE UNINTERRUPTED OR ERROR FREE; NOR DO THEY MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE SERVICES OR THE SITE, OR AS TO THE TIMELINESS, SEQUENCE, ACCURACY, RELIABILITY, OR COMPLETENESS OF CONTENT OR ANY INFORMATION, SERVICE, OR MERCHANDISE PROVIDED THROUGH THE SERVICES AND THE SITE. ALERUS DOES NOT ENDORSE PRODUCTS OR SERVICES APPEARING ON LINKED WEBSITES OR PURCHASED VIA LINKED WEBSITES. YOU AGREE THAT ALERUS IS NOT RESPONSIBLE FOR ANY LOSS, PROPERTY DAMAGE OR BODILY INJURY, WHETHER CAUSED BY ACCESS TO OR USE OF THE SERVICES OR THE SITE. TO THE MAXIMUM EXTENT PERMISSIBLE UNDER APPLICABLE LAW, ALERUS WILL NOT BE RESPONSIBLE TO YOU OR ANY THIRD PARTY CLAIMING THROUGH YOU FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL, ECONOMIC OR OTHER DAMAGES ARISING IN ANY WAY OUT OF THE INSTALLATION OR USE OF THE SERVICES, THE SITE, OR ANY ONLINE SERVICE OR INTERNET BROWSER SOFTWARE, INCLUDING LIABILITY ASSOCIATED WITH ANY COMPUTER VIRUSES WHICH MAY INFECT YOUR COMPUTER SYSTEM.
If you leave the Site to use the services of, or complete transactions with, an independent third party service provider, your use of the third party service provider's site and services (the "Linked Site") will be governed by the terms of use of the provider of the Linked Site. As used here, "Linked Sites" include, but are not limited to, co-branded websites - sites displaying an Alerus header but also including the name of the third party provider - and independent third party web sites reached through navigation from the Site or other Linked Sites.
The terms of use applicable to each Linked Site may be presented to you prior to completing a session or transaction on the Linked Site by means of a separate browser window or screen and/or at the bottom of each page of the Linked Site. In the event you choose to use the services available at a Linked Site, you agree to read and adhere to the policies and any terms and conditions applicable to that site. In the event you are not presented with terms of use applicable to a Linked Site, these Terms shall govern your use of that site.
By accepting these Terms, you acknowledge and agree that the material, information, content, products and services offered or provided at the Linked Sites or by the Linked Site providers, including without limitation any and all promotions and advertising, are not supplied or controlled by Alerus, and Alerus will have no liability for any such material, information, content, products or services.
While we do our best to work with reputable companies, Alerus makes no representations or warranties regarding the materials, information, content, products or services provided at the Linked Sites. In addition, any advice, opinions, or recommendations provided by the Linked Site providers are those of the providers and not of Alerus. Your participation in any Linked Site, including payment for and the delivery of goods or services, is based solely on an agreement between you and the Linked Site provider.
You agree to defend, indemnify and hold harmless Alerus, its affiliates and their respective directors, officers, employees and agents from and against all claims and expenses, including attorneys' fees, arising out of your use of the Services.
At the request of either party, any dispute concerning the Services shall be decided by binding arbitration pursuant to the arbitration rules of the American Arbitration Association. The arbitration will be conducted in Grand Forks, North Dakota. Nothing herein shall preclude either of us from exercising any lawful right to self-help remedies including set-off, or obtaining provisional or ancillary remedies such as injunctive relief.
These Terms, as amended from time to time, contain the entire understanding between you and us concerning the Services. If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. There are no third party beneficiaries of this Agreement.
This Agreement and the Services are governed by the laws of the State of North Dakota and applicable federal law, without regard to any different state laws that may govern the Services available within the Site.
The Services are owned and controlled by Alerus and are protected by U.S. copyright laws and international treaties. You are granted a non-transferable, revocable license to use the Services and the Site for your personal purposes only. You may not sell, rent, transfer, link to, reproduce or republish all or any portion of the Services or the website for any commercial or public purpose.
In addition, you may not transfer, assign or sublicense your right to use the Services or the website. Alerus and other parties own the trademarks, logos and service marks (individually and collectively, the “Marks”) shown on the Site and websites linked thereto. You are not authorized to use the Marks without express written permission from Alerus or such other parties that own the Marks.
We may assign our interest in these Terms or delegate certain of our rights and responsibilities under these Terms to third parties. These Terms and your rights and obligations under these Terms are not assignable by you without our prior written consent.
Unless otherwise required by applicable law, in the event that we are required to provide a notice or other communication to you in writing, that notice or other communication may be sent to you electronically to your electronic mail address as reflected in our then current records.
We use email as an important communication channel with our clients. You may be asked from time to time to indicate whether you would like to receive email communications from us. Unless you opt out from such electronic communications, we may send you emails regarding new products/services or other special offers.
You will need to register your mobile device before we are able to send you text messages for the Services that use text messaging. By providing us with a cellular phone number, you consent to receiving text messages and calls from us and our service providers at that number including those made by use of an automatic telephone dialing system (“ATDS”). You acknowledge and agree that such telephone calls include, but are not limited to, live telephone calls, prerecorded or artificial voice message calls, text messages, and calls made by an ATDS from us or our affiliates and agents. Messages and data rates may apply and you are responsible for any such charges.
DASHBOARD AND FINANCIAL FITNESS
In addition to your accounts at Alerus, you have the ability to link your checking, savings, credit cards, and retirement accounts with other financial services companies to track balances, budgets, and investments in one place (“Dashboard”). When you link accounts, balances are updated automatically. This linking functionality is powered by a third party service provider and use of this function is subject to a separate Terms of Use. To link accounts, you will be asked to select the account and enter the required username and password for access. You may also add an account manually to be included in your comprehensive view of accounts.
By linking an account, you are licensing to Alerus and its service providers any information, data, usernames, passwords, materials or other content (collectively, “Content”) you provide through or to the service. Alerus and service providers may use, modify, display, distribute and create new material using such Content to provide the service to you. By submitting Content, you automatically agree, or promise that the owner of such Content has expressly agreed that, without any particular time limit, and without the payment of any fees, Alerus and service providers may use the Content for the purposes set out above. As between Alerus and service providers, Alerus owns your confidential account information.
You agree that service providers shall have the right at all times during and after your use of the services to use, sell, license, reproduce, distribute and disclose aggregate, non-personally identifiable data compiled through use of the services and website.
Alerus, utilizing third-party service providers, makes available financial assessment and education software for individuals ("Financial Wellness Workouts"). The Financial Wellness Workouts use algorithms (mathematical models) to analyze your current financial condition and generate hypothetical actions that may help you reach your desired financial outcomes. You have the ability to access and use the Financial Wellness Workouts on the Site or a Linked Site. More information about the Financial Wellness Workouts is available to you on the Site or Linked Site.
Each time you use a Financial Wellness Workout or its output, it is your responsibility to verify the accuracy and appropriateness of the inputs, assumptions, and other information used in the analysis. Your results may vary with each use and over time due to updates to the software, changes in your personal situation, goals or priorities, or changes in assumptions. It is advisable that you return periodically (preferably at least monthly) to review and update your information that will be used for an updated analysis. My Alerus Financial Wellness Workouts are offered as general and educational information only, and are not intended to provide individualized financial, legal, tax or investment advice or recommendations. We are not a fiduciary of your account or plan as a result of the information provided in a Financial Wellness Workout. We cannot and do not guarantee the Financial Wellness Workout's applicability in regard to your individual circumstances and will not be liable for any inaccuracy or inapplicability. We are not providing you advice or a recommendation related to your plan account investments, including with respect to your decision to implement or maintain a particular investment allocation or to enroll in or unenroll from a Managed Account program. Other investment alternatives having similar risk and return characteristics may be available under your plan. You can find more information about these alternatives by logging on to your plan account. In applying particular asset allocation models to your individual situation, you should consider your other assets, income, and investments (e.g., equity in a home, IRA investments, savings accounts, and interests in other qualified and non-qualified plans) in addition to your interests in your plan. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. If your plan utilizes the "Managed Account" option and you have opted into a Managed Account, you should consult the individual account manager's Form ADV Part 2A Brochure. Further information about the individual account manager, which will not be Alerus, will be available to you upon request. We are not affiliated with the individual account manager or the software provider of the Managed Accounts, and we will have no responsibility for your plan's sponsor's engagement of an individual account manager, your decision to opt into a Managed Account, or the actions or omissions of the individual account manager.
Alerus’ Dashboard includes a budgeting tool which utilizes software to enable the construction of a basic budget. You will be asked to either manually add or link through a third party service provider all recurring monthly expenses and accounts used to pay them.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
ACCESS TO RETIREMENT PLAN ACCOUNT INFORMATION
Retirement plan participants may access their account information via the Site. You may also use the Site to provide investment directions for your retirement account and take other actions permitted by the terms of your retirement plan and made available through the Site.
You must review your quarterly account statements, account information, confirmations or other written (whether paper or electronic) information or notices (individually and collectively, “Account Information”) regarding your account. If you do not notify us in writing of a suspected error within 14 days of your receipt of Account Information, the Account Information will be deemed accurate.
In addition to being subject to these Terms, your account remains subject to the terms and conditions of your retirement plan and trust. Additionally, each account will be subject to the following:
You may access the Site to obtain balances, transaction history and other information regarding your account.
A transaction or investment direction completed through the Site before the cutoff time on a business day will generally be posted to your account the same day. Transactions completed after the cutoff time on a business day or on a day that is not a business day, will generally be posted on the next business day. The cutoff time is 3 p.m. (Central Time). Every day is a business day except Saturdays, Sundays, and New York Stock Exchange and other bank holidays. At certain times, the website may not be available due to system maintenance or circumstances beyond our control.
Alerus may deviate from its customary processing timeframes for, among other reasons, the following: the receipt of incomplete data from the plan sponsor; interruptions or delays affected by information or communication systems, exchange or market rulings; disruptions in orderly trading on any exchange or market caused by market volatility or trading volume; suspension of trading; computer failures; operational system failures; cyber events or other acts of god (individually and collectively, a “Processing Delay”). In the event of a Processing Delay, Alerus shall not be liable for loss of investment return, diminution of value or other claims, if it takes reasonable steps to act as soon as administratively feasible following its actual knowledge of the Processing Delay.
In addition, we are not obligated to honor, in whole or in part, your investment transaction or other instructions which:
You may only provide investment direction for your account as specifically outlined on the Site. Unless you are explicitly directed in writing (via paper or electronic communication) by an Alerus client service representative, you may not provide investment direction to us via email, voice mail, chat room discussion, instant messaging or other electronic device.
Neither Alerus, its employees, agents, subcontractors nor any related third party may offer you legal, tax, accounting or investment advice. Investment planning tools, mutual fund information, articles or other information provided to you via the Site or in any other format (whether paper or electronic) are solely intended to be general educational material. You are responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based upon your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific tax, investment or other circumstances.
Download services for your Account may allow you to download certain information into Quicken®, QuickBooks®, Microsoft® Money, Microsoft® Office Accounting, and other software we may identify from time to time on the Site, that you have installed on your computer (“PFMS”). You are responsible for obtaining a valid and separate license agreement with the provider of the PFMS. Alerus assumes no liability for the PFMS, the security of the PFMS system, the security of your information contained therein, or the security of transmission or downloading your account information to the PFMS. In addition, we are not liable for any loss, damages or expenses of any kind as a result of your reliance upon your PFMS.
From time to time, transaction process system tools and products (collectively "TPS") may be available on the Site. If you elect to install TPS on your computer, you are responsible for obtaining a valid and separate license agreement with the provider. You assume all risk of loss associated with any TPS you download and install and any information you enter into the TPS including but not limited to access by unauthorized third parties, damage to your computer (or other electronic device) or any loss or corruption of data that might occur. In addition, you agree that if you use the TPS to transmit information, you (and the TPS provider) are responsible for the security and confidentiality of that information. You assume the risk associated with TPS and are solely responsible for any damage that might occur to your computer (or other electronic device) or any loss or corruption of data that might occur. Alerus assumes no liability regarding the content, reliability, accuracy or any other aspect of TPS.
RETAIL ACCOUNT INFORMATION
You may access your eligible accounts online (“Online Banking”). You may access your online accounts 24 hours a day, seven (7) days a week. However, availability of the Services may be suspended for brief periods of time for purposes of maintenance, updating and revising the software, and for reasons beyond our control.
Business accounts should not be linked to consumer accounts. If you link your small business accounts to your consumer accounts, you agree to indemnify and hold Bank harmless against any and all losses or claims resulting from your decision to link accounts in accordance with this paragraph. The consumer protection provisions included in these Terms, and any other agreements you may be required to agree to in conjunction with the usage of Online Banking and ancillary services, are not applicable to business accounts.
You may use Online Banking to conduct the transfer of funds. You may make one-time transfers or schedule future or recurring transfers such as transfers to make loan payments. You may transfer funds among your checking accounts, savings accounts and money market savings accounts.
You may also use Online Banking to electronically transfer funds between Alerus transaction accounts and transaction accounts at other financial institutions. Funds may be transferred as a one-time event or on a recurring basis. Verification that you have ownership in the transaction account at the other financial institution will be required before you are able to transfer funds to an external account.
NOTE: The following limitation applies: To avoid a $5 fee per monthly service cycle (4 week period) on a money market account, transfers from a money market account to another account or to a third party by preauthorized, automatic, Online Banking transfer, or telephone transfer are limited to eight (8) per statement cycle. This includes checks, drafts, and ATM & debit card transactions.
You may use Online Banking to place stop payment requests, access electronic statements and set up account and transaction alerts. We provide you with the ability to pay bills through a third party service provider (“Bill Payment Service”); you will be required to accept a separate agreement for this service. New services may be introduced for Online Banking from time to time. The Bank will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.
You may access your Online Account through a mobile device, using the Alerus Mobile App, or text banking. You are able to remotely deposit paper checks into an eligible account at Alerus using your Alerus Mobile App. We will process the electronic deposit just as we would a paper check. Upon your receipt of a confirmation from us that we have received a check image, you agree to destroy the check that you transmitted as a check image, mark it "VOID", or otherwise render it incapable of further transmission, deposit, or presentment.
Touch ID and facial management allow you to use your fingerprint or your mobile phone’s facial recognition technology to log into your Alerus Mobile App securely instead of entering your username and password. Your username and password will not be stored on your device. By enabling touch ID/facial management, every person with an enrolled fingerprint or facial recognition on your device will have access to your account. Review the enrolled fingerprints and facial recognition to make sure that each person is authorized to access the personal and financial information available in your Alerus Mobile App. Fingerprints and facial recognition are only stored on your device. Alerus does not see or store your fingerprint or facial information.
Our disclosure - made in compliance with federal law regulating electronic funds transfer (EFT) services - is set forth at the end of these Terms.
WEALTH MANAGEMENT ACCOUNT INFORMATION
Your investment accounts with Alerus will be automatically included with your accounts, including the associated balances. You may access additional information regarding your investments held at Alerus on the Site. Additional details regarding your investment accounts held at Osaic Institutions, Inc. ("Osaic") are available via a link on the Site that will connect you to a Linked Site hosted and owned by Infinex.
Investment products and services are offered by Alerus through Osaic, Member FINRA, Member SIPC. Alerus Securities is a trade name of Alerus. Osaic and Alerus are not affiliated. Products and services made available through Osaic are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
MORTGAGE ACCOUNT INFORMATION
Your mortgage account balances will be included with your loan accounts, including any loans that are serviced by a third party, Dovenmuehle Mortgage, Inc. (DMI), on behalf of Alerus. Additional account information for any mortgage loan that is serviced by DMI is available via a link on the Site that will connect you to a Linked Site hosted and owned by DMI.
Alerus Mortgage is a trade name of Alerus. DMI and Alerus are not affiliated.
HEALTH & BENEFITS ACCOUNT INFORMATION
Your health and benefits accounts with Alerus will be automatically included with your accounts, including the associated balances. You may access your health and benefits services provided by Alerus via a link on the Site that will connect you to a Linked Site hosted and owned by Wex Inc. a/k/a Wex Health (Wex).
Wex and Alerus are not affiliated.
PRIVACY
Alerus’ privacy policy is available on the Alerus.com website on the Privacy & Legal page for your reference. Although Alerus does not generally disclose client information to unrelated parties, in order to facilitate your access to the Services offered by the third party service providers on the Linked Sites, Alerus may automatically transfer certain information to the providers hosting the Linked Sites when you access a Linked Site. By accepting these Terms, you agree that Alerus may release such information to the Linked Site providers and you release Alerus from any and all liability for transferring and disclosing your information to the Linked Site providers. We may share any and all information collected through the Site with our current and future affiliates and with any successor entity in the event of a merger, sale of the business, sale of assets, change of control, or similar transaction. You agree not to provide Alerus with personal health information on the Site, unless asked for such information by Alerus. The Site is not intended for residents of countries other than the United States.
ELECTRONIC FUND TRANSFERS
Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it describes your rights and obligations for the transactions listed. You should keep this notice for future reference.
You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:
Please also see the Limitations on Frequency of Transfers section regarding limitations that apply to savings accounts.
You may access your account(s) 24-hours a day via telephone access, via mobile banking, and via online banking (computer transfers) to:
*A separate terms and conditions document is applicable to the bill payment and person to person payment services and includes important terms.
Please also see "Limitations on Frequency of Transfers" section regarding limitations that apply to telephone or computer transfers.
You may access your account(s) by ATM using your debit card and personal identification number to:
Some of these services may not be available at all terminals.
Please also see "Limitations on Frequency of Transfers" section regarding limitations that apply to ATM transfers.
You may access your checking account(s) to purchase goods (in person, online, by phone or by mobile wallet), pay for services (in person, online, by phone or mobile wallet), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.
Using your card you may not exceed $2,500.00 in signature or PIN-based transactions per day. Limits can change with Bank approval. For security reasons, there are limits on the number of transactions you can make using your debit card.
Please also see "Limitations on Frequency of Transfers" section regarding limitations that apply to debit card transactions.
You may not place a stop payment order on any ATM, POS, or debit card transactions.
When you use your debit card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. Visa USA charges us a 1% International Service Assessment on all international transactions regardless of whether there is a currency conversion. We pass this international transaction fee on to you. An international transaction is a transaction where the country of the merchant is outside the USA.
You agree not to use your card(s) for illegal gambling or other illegal purposes. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.
We have enabled non-Visa debit transaction processing. This means you may use your debit card on a PIN-Debit Network* (a non-Visa network) without using a PIN. The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa's zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network.
*Visa rules generally define PIN-Debit Network as a non-Visa debit network that typically authenticates transactions by use of a personal identification number (PIN) but that is not generally known for having a card program.
In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:
You may terminate the electronic fund transfer agreement by providing seven days’ advance written notice to us. We may terminate the electronic fund transfer agreement by providing written notice to you.
We do not charge for direct deposits to any type of account. We do not charge for preauthorized payments from any type of account. Please refer to our separate schedule of services and fees for additional information about fees. Except as indicated elsewhere, we do not charge for these electronic fund transfers.
We will disclose information to third parties about your account or the transfers you make where it is necessary for completing transfers; or in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or in order to comply with government agency or court orders; or if you give us written permission.
Generally, Tell us AT ONCE if you believe your card and/or code 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 your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission.
If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.
Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was made available to you, you may not get back any money you lost after the 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.
Withdrawals made at a terminal will normally be completed and charged to your account immediately. Deposits made at a terminal will normally be credited to your account by the end of the business day on which the deposit was made at an Alerus ATM, and within five business days if the deposit was made at a non-proprietary ATM. Transfers between accounts will normally be completed immediately. Payments made at a terminal will normally be completed immediately.
Payment for goods or services made in this manner shall not affect any of the rights, protections, or liabilities in existing law concerning a cash or credit sale made by means other than through the use of a terminal. You cannot reverse a point-of-sale transaction.
Call or Write us at the telephone number or address listed in this disclosure, 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 60 days after the FIRST statement on which the problem or error appeared was made available to you.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (5 business days for debit card point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for debit card point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) 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 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.
We will tell you the results within three 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.
ALERUS FINANCIAL
CLIENT SERVICE CENTER
P.O. BOX 6001
GRAND FORKS, ND 58206-6001
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: 1.800.279.3200 Ext. 2662 or 701.795.2662
To report a lost or stolen card after bank hours,
please call 1.800.554.8969