Online Banking Agreement

This agreement and disclosure, hereinafter referred to as the “agreement”, provides information about Middlesex Federal Savings, F.A. (MFS) Online Banking Service and related features, and disclosures required by the Electronic Funds Transfer Act.

In this agreement “you”, “your”, and “yours” refers to each of you that will be using the MFS Online/Mobile Banking Services, hereinafter referred to as “Online Banking”, or the “service” and described in this agreement. “We”, “Us”, “Our”, and “Bank” refers to MFS. “Account(s)” refers to the account(s) you have designated for Online Banking. This agreement contains the terms and conditions governing Online Banking. The service permits you, through the use of the World Wide Web and your personal computer, phone, tablet or other means of accessing the Internet, to open accounts, access your accounts and among other tasks, make payments through the Internet. We may modify the terms of this agreement and the service from time to time in accordance with applicable law. Additional capabilities or accounts may become accessible through the service. As changes are made, you will be provided with a description of each such change to a service or account and applicable fees, if any, at least 30 days before the effective date of any changes and will be given the opportunity to access each through Online Banking. Your use of these new services or accounts shall mean that you agree to any additional terms and conditions as well as payment of fees. Also, we reserve the right to delete or modify any services or accounts from Online Banking with proper notice when required.

Business Days and Hours of Operation

For the purposes of this agreement, our business days include every day other than Saturday, Sunday and federal holidays. All references to time of day refer to Eastern Time. Online Banking can only make transfers and bill payments on business days although you may use your computer to access Online Banking 24 hours a day, seven days a week, except during any special maintenance period. We will attempt to schedule maintenance when it least impacts customer usage. Our business banking hours are Monday through Friday, 8:30AM – 4:00PM – federal holidays are not included.

Use of Online Banking

To become eligible to use Online Banking, you must accept this agreement and select a unique User ID and password. Your use of any Online Banking Service means that you agree to the terms and conditions stated in this agreement. You also agree to accept communications from us electronically, such as, updates to this and any other related disclosures.


The terms and conditions in this agreement are in addition to any deposit account or other agreement you have with us relating to your account(s), including any disclosures made pursuant to such agreements. You must maintain your account(s) in good standing with MFS in order to perform transactions using Online Banking.


This agreement will remain in effect until it is terminated by you or by MFS. You may cancel this agreement at any time by notifying MFS by phone, email, or mail. If you notify us by phone, we may require you to put your request in writing. MFS may cancel this agreement and terminate your use of Online Banking for any reason, at any time. MFS will use commercially reasonable measures to notify you in advance of any such termination, but MFS is not obligated to do so. If you terminate your use of Online Banking you authorize us to continue making transfers and bill payments you have previously authorized until such time as we have had a reasonable opportunity to act upon your termination notice. Once we have acted upon your termination notice, we will make no further transfers or payments from your account(s), including any transfer or payments you have previously authorized. If we terminate your use of Online Banking, we reserve the right to make no further transfers or payments from your account(s), including any transactions you have previously authorized.

Governing Law

This agreement is governed by and shall be construed in accordance with the laws of the Commonwealth of Massachusetts and applicable federal law.

Password and User ID

You agree to keep your User ID and Password confidential to prevent unauthorized access to your account(s) and to prevent unauthorized use of Online Banking. The User ID and Password are used to identify you as an authorized user of Online Banking. If you believe your User ID and/or Password have been compromised, or you have forgotten your User ID or Password, you should call us AT ONCE at 1-844-422-3065 or 617-666-4700.

Equipment & System Requirements

In this agreement, the term “Computer” shall mean your computer, phone, tablet and any other equipment used to access the Internet. The installation and operation of your equipment and the World Wide Web access through your Internet provider is your responsibility. We are not responsible for any errors or failures from any malfunctions of your Computer and we are not responsible for any computer virus or related problems that may be associated with the use of Online Banking.

In order to use the service you must have access to the following:

  1. A computer, phone, tablet, or other device capable of accessing the Internet.
  2. An active “Internet Service Provider” and an e-mail address.
  3. A web browser that supports at least 128-bit SSL encryption and that has “cookies” enabled.
  4. Either a printer or sufficient electronic storage space to print or download agreements and disclosures we send to you concerning any change to this agreement, and any other confirmations, notices or other information provided or made available to you electronically on or through this site. We may make information available on or through the MFS’ web site in HTML or Portable Document Format (PDF). To access information in PDF you will need access to Adobe (Acrobat) Reader® or other Portable Document Format (PDF) compatible software.

Online and Mobile Banking allow you to perform some or all of the following functions for your designated account(s):

  1. Obtain account balances and transaction information on your MFS account(s).
  2. Transfer funds between accounts. Transfers from Passbook accounts are not allowed.
  3. Make payments to a person or business. Managing Payees and Bank to Bank Transfers.
  4. Send secure electronic mail (email) to us.
  5. Open select account types.

You may check the balance(s) and get a listing of transactions posted to your account(s) since your last monthly statement. NOTE: the balance figure may not reflect recent transactions, and may include funds which are not subject to immediate withdrawal.

Regulation D Transaction Limitations

Except as provided herein, all Bill Payments and Transfers to and from an account are subject to the terms and conditions applicable to such account as set forth in the account agreement governing such account. With respect to interest bearing savings and money market accounts, you may not make more than six transfers or withdrawals per statement cycle to another account of yours or to third parties, when these transfers are made by means of a preauthorized or automatic transfer, or telephonic agreement, order or instruction.

There may be a one (1) business day delay in transferring funds between designated MFS accounts depending on the day and time which you request the transfer. Transfers are subject to funds availability.


Bill Payments made through Online Banking will be deducted from the designated funding account on the deliver by date or when the check clears your account. Payments are made in US dollars and all payees must be located in the United States. We reserve the right to refuse certain payees. Online Bill Pay may not be used to pay a federal, state or local governmental or tax unit. There is a dollar limit of $25,000 (or the available balance in your account, plus your Occasional Overdraft Protection Service, if applicable, whichever is less) on any payment.

Bill Payments and Transfers may be processed in three different transaction modes. They are as follows:


Any payments or transfers scheduled as a "Today" transaction will have a Deliver by Date within the next two to five business days. However, sufficient funds must be available on the day and at the time you request the "Today" transaction. "Today" Bill Payments and Transfers may not be canceled for any reason once you have ended an Online Banking session, as funds are immediately deducted from your designated account. The cutoff time for a “Today” payment may be as late as 10:00PM depending on the payee’s processing capabilities. Your online calendar will provide the earliest available day that you can schedule a payment.


Payments and transfers may be scheduled up to 364 days in advance. Future dated payments and transfers will be processed to allow sufficient time for delivery to the payee on the selected Deliver by Date. Processing of these items may be two to five business days before the selected Deliver by Date.


Payments or transfers may be scheduled as recurring transactions. You will designate a “start” and “end” date as well as a frequency (e.g., weekly, bi-weekly, monthly, etc.). Recurring payments and transfers will be processed to allow sufficient time for delivery to the payee on the selected Deliver by Date. Processing of these items may be two to five business days before the selected Deliver by Date.

If you do not allow sufficient time, you will assume full responsibility for all late fees, finance charges, or other actions taken by the payee. If you schedule your payment with sufficient time, and the payment was not received by the payee, or was received late, you may be reimbursed for reasonable late fees and service charges related to the payment in question, not to exceed $50.

If you do not have enough money in your account on the “Deliver By” date, the payment will still be sent to the biller/payee and you could receive an insufficient funds charge (as disclosed in our Fee Schedule). We will try to collect payment a second time within 24 – 48 hours. If at that time you still do not have sufficient funds, a second insufficient funds charge may be assessed. At times, the Service Provider may work with the biller/payee to try to reverse the payment. If the payment is reversed, you are responsible for making alternate arrangements for the payment, or rescheduling the payment through Online Bill Pay. If the payment cannot be reversed, you may be contacted by the Service Provider directly to satisfy your outstanding balance. Your access to Online Bill Pay may also be restricted for payments resulting in insufficient funds.

You must inform MFS of any changes in your current e-mail, home, cell and business phone numbers. You may update this information at any time through Online Banking/Mobile.

Stopping or Modifying Authorized Payments

Payments designated as "Today" transactions cannot be stopped, canceled, or changed once your Online Banking session is terminated. Except as stated below, in order to request a stop payment or change an Online Bill Pay transaction designated as "Future" or "Recurring," you must use Online Banking and follow the instructions provided.

We will only accept a verbal or written notice to stop an Online Bill Pay transaction if it relates to a payment designated as "Recurring" and only if the notice is received at Online Banking Customer Service at 844-422-3065 no later than three business days before the scheduled date of the payment or transfer. If you call, we may also require you to put your request in writing and get it to us within fourteen days after you call. The notice must detail whether the cancellation applies to only one of the recurring transactions, or all transactions to the payee in question. You understand that your written notice will only be accepted at the address at the beginning of this agreement.

If you request a cancellation of a transaction as set forth above and we do not do so, we will be liable for the damages caused as explained in the Liability for Failure to Make Payments section.


  1. Any documentation provided to you which indicates that an electronic funds transfer was made to another person shall be admissible as evidence of the transfer and shall constitute prima-facie proof that the transfer was made.
  2. The initiation by you of certain electronic fund transfers from your account will, except as otherwise provided in this agreement, effectively eliminate your ability to stop payment of the transfer.

Unless otherwise provided in this agreement, you (the consumer) may not stop payment of electronic fund transfers, therefore you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment.

MFS is responsible only for exercising ordinary care in making payments upon your authorization and for mailing or sending a payment to the designated payee. MFS is not liable in any way for damages you incur if you do not have sufficient funds in your account to make the payment on the processing date, if the estimate of time to allow for delivery to the payee is inaccurate, or due to delays in mail delivery, changes of payee address or account number, the failure of any payee to account correctly for, or credit the payment in a timely manner, or for any other circumstances beyond the control of MFS.

Liability for Failure to Make Payments

If we do not send a payment or make a transfer on time, or in the correct amount according to your instructions, we may be liable for late fees you may be charged. However, there are some exceptions. We will not be liable, for instance, if:

  1. Through no fault of ours, your designated funding account does not contain sufficient funds to make the payment or transfer
  2. The equipment, phone lines, or computer systems were not working properly or were temporarily unavailable
  3. Circumstances beyond our scope of control, such as fire or flood, prevented the payment or transfer, despite reasonable precautions that we have taken
  4. A court order or legal process prevents us from making a transfer or payment
  5. The payee does not process a payment correctly, or in a timely manner.


Your use of the MFS Mobile Deposit Service is governed by the terms of this agreement. Your enrollment in the MFS Mobile Deposit Service constitutes your agreement with the terms of this agreement. You acknowledge that you have read and accept this agreement and will retain a copy for your records.

A. Mobile Deposit Service (or “Service”)

The service enables you to use a MFS Mobile Banking application and certain hardware (such as a smartphone or other mobile device) to (i) create electronic images of the front and back of certain Paper Items “Paper Item” is an Item that is in paper form. For purposes of this agreement, an “Item” includes a check, a substitute check, purported substitute check, draft, demand draft, preauthorized draft, image replacement document, money order or cashier’s check and (ii) transmit those images and other information, including, without limitation, information captured from the magnetic ink character recognition (“MICR”) line, to us for review and processing in accordance with this agreement. “Electronic Item” means the electronic image of each Paper Item and other information captured from the Paper Item. After we receive your transmission, we will review each Electronic Item. For each Electronic Item that we determine is eligible for processing as described below, we will:

  • create a substitute check that we will present directly or indirectly to the bank (a) on which the original Paper Item to which the Electronic Item relates is drawn, or (b) at or through which the Paper Item is payable (each, the “Paying Bank”);
  • include the Electronic Item in an electronic file for presentment directly or indirectly to the Paying Bank; or
  • present or post any Electronic Item for which we are the Paying Bank.

B. Qualification

In order to enroll in the service, you must be designated as an authorized signer or owner of a MFS account (the “account”) that is eligible for this service.

C. Conditions to Provision of the Service

As conditions to Bank’s provision of the service, you shall (a) maintain the account in good standing, (b) subscribe to MFS Online Service, and (c) comply with such restrictions on the service as we may communicate to you from time to time.

D. Fees

The service is provided at no charge to you. We may, upon at least 30 days prior notice to you, to the extent required by applicable law, charge a fee for use of the service. If you continue to use the service after the fee becomes effective, you agree to pay the service fee that has been disclosed to you, as may be amended from time to time. Further, you will be required to designate an account at MFS from which fees for the service will be debited. Any applicable fees for the service may be changed by us at our discretion at any time upon at least 30 days prior notice to you.

E. Creating and Transmitting Electronic Items to MFS

You shall use your mobile device to create electronic images of checks and other Paper Items that you wish to deposit to your account by means of the service, and to transmit your Electronic Items to us. The following items may not be deposited through the service: international checks, remotely created checks (whether in paper form or electronically created), checks drawn against a line of credit, or cash. Except as noted in the preceding sentence, only checks, money orders, cashier’s checks, or traveler’s checks, drawn on or payable at or through a U.S. bank, can be transmitted through the service. Additionally, only Items that are made payable to, and endorsed by, you may be transmitted through the service.

F. Processing Your Electronic Item(s) and Funds Availability

If you transmit your Electronic Item(s) to MFS before the cut-off time (3:00 PM, Monday through Friday normal Business Days) on any Banking Day, we shall review and process your Electronic Item(s) on that Business Day. If you transmit your Electronic Item(s) to us after the Cut-Off Time on any Business Day, we shall process your Electronic Item(s) on the next Business Day. Funds from deposited items will generally be available the night of the Business Day your deposit is received and processed, after nightly processing is completed. If an extended hold has been placed on your account, you will be notified by email no later than the next business day.

G. Exception Items

Each Business Day on which we review and process your Electronic Item(s), we will use commercially reasonable efforts to review each Electronic Item and to reject any Electronic Item that we in our sole discretion determine to be ineligible for the service (each, an “Exception Item”). “Exception Item” includes, without limitation, an Electronic Item that (a) is illegible or contains MICR data that is not machine-readable, (b) was previously processed as an Electronic Item, or (c) is drawn on banks located outside the United States and is not payable at or through a bank located within the United States. We will notify you of each Exception Item using the email address on file, or other communication channels at our discretion. If you wish to attempt to deposit any Exception Item to your account, you shall do so only by depositing the original Paper Item on which the Exception Item is based or as otherwise agreed between us. Even if we do not initially identify an Electronic Item as an Exception Item when we review and process the Electronic Item to which the Exception Item relates, the Electronic Item, substitute check, or the purported substitute check created by us from it may nevertheless be returned to us because, among other reasons, the Paying Bank determines that such item or check is illegible or missing an image. Our failure to identify an Exception Item shall not preclude or limit the obligation of you to MFS as defined in this agreement.

H. Deposits to the Account

Subject to our right to identify and reject Exception Items, we shall be deemed to have accepted each Electronic Item that is not an Exception Item for deposit to the account on the Business Day that we process the Electronic Item, provided its transmission to us is prior to the Cut-Off Time. In addition, an Electronic Item will be deemed to have been deposited at the office where the account is maintained.

I. Security Procedures

Any individual authorized by you to access the service (a “User”) shall do so by entering a user name and a password, or other unique identifier that may be required (collectively referred to herein as “Security Credentials”). No person employed by MFS shall have access to any Security Credentials you or your Users create. From time to time, we may require you to use additional security and authentication procedures as specified elsewhere in this agreement.

J. Your Warranties to MFS

You represent and warrant to MFS that:



You will use the service only for Paper Items that are payable to, and endorsed by, you. You agree to restrictively endorse any item transmitted through the services as "For deposit only, account # (your account number here)” or as otherwise instructed by MFS. You agree to follow any and all other procedures and instructions for use of the services as MFS may establish from time to time.


You will properly secure access to your Mobile Device you use in connection with the service (including, but not limited to, securing the device with Security Credentials to prevent unauthorized use). You will maintain control over and be responsible for secure retention, storage, and destruction of original Paper Items for which you have created an Electronic Item. After transmitting the Electronic Item to us, you will retain the original Paper Items for a minimum of five (5) calendar days, but no longer than fourteen (14) calendar days, from the transmission date (“Retention Period”). You will retain and store the original Paper Items in a secure manner and destroy the items once you have confirmed that the deposit has been credited to your account. During the Retention Period and upon our request, you agree to provide us with the original Paper Item(s).


You will not submit any duplicate checks to us.


You will not deposit to your account or otherwise negotiate any original Paper Item from which you have previously created and submitted to us an Electronic Item, unless we have notified you that the Electronic Item is an Exception Item.


You will transmit to us only Electronic Items that are suitable for processing, including, but not limited to, Electronic Items that are legible and contain machine-readable MICR data.


You will review and verify for accuracy the information contained in the Electronic Item(s) before you transmit it to us.


You will only transmit Electronic Item(s) that are drawn on or payable at or through banks located within the United States.


You will not store or make a back-up copy of the Electronic Item(s).


Any User of the service is at least 18 years of age.

K. Your agreement to Indemnify MFS

You will indemnify, defend, and save harmless MFS, and each of the respective directors, officers, and employees (Indemnitees) from and against all liabilities, damages, claims, obligations, demands, charges, costs, or expenses (including reasonable fees and disbursements of legal counsel and accountants) awarded against or incurred or suffered (collectively, "Losses and Liabilities") by Indemnitees arising directly or indirectly from or related to the following (except for Losses and Liabilities arising directly or indirectly from or related to our own gross negligence or willful misconduct):


Any negligent or intentional act or omission by you in the performance of your obligations under this agreement, including, but not limited to, (i) duplicate scanning of the same original Paper Item, (ii) transmission of duplicate Electronic Items, (iii) calculation errors of deposit totals, (iv) numerical errors on deposit data entry, and (v) fraudulent or unauthorized use of your Security Credentials.


Any material breach by you of any representation, warranty, covenant, or obligation contained in this agreement;


K.3. The violation of any applicable law, statute, or regulation in the performance of your obligations under this agreement;


K.4. MFS acting as a "reconverting bank" under the Check Clearing for the 21st Century Act through the creation of “substitute checks” or purported substitute checks using an Electronic Item or an illegible Electronic Item;


Our presenting to Paying Bank an Electronic Item for payment; and


Your failure to (i) securely maintain your hardware or the original Paper Items, or (ii) properly and timely dispose of original Paper Items in accordance with Paragraph J.2, in which event such Losses and Liabilities shall include without limitation consequential damages.

This Paragraph K shall survive the termination of the service.

L. Termination

You or we may request termination of the service at any time.

M. Entire agreement; Conflicting Terms

This agreement forms part of and is incorporated by reference into the Online Banking agreement and Disclosure.

N. Hardware and Software

In order to use the services, you must obtain and maintain, at your expense, compatible hardware and software as specified by MFS from time to time. This includes compatible phones and/or tablets and applicable apps – data charges may apply.

O. Open Select Accounts

Through your mobile device you may open select MFS accounts.

NOTE: If we need to make changes to any portion of these agreements, you will be required to reread and reaccept. Use of any of these services, after Acceptance, indicates that you agree with the entire agreement and disclosure.


New Bank to Bank transfers may require MFS to verify ownership of any account associated with the transaction before the transfer will be completed. Your MFS relationship will determine whether you will need to provide verification of ownership of the account associated with the transfer.

As part of the B2B setup, you will be instructed to input information that will identify the account and financial institution that will be part of the transfer. After you have verified your “micro deposits”, MFS will contact you to let you know if you need to provide ownership verification or the status of your transfer. The verification process may require proof of ownership of the non MFS account and will be completed by you providing us two recent account statements. Depending on how long it takes for you to provide us with the information, the transaction will usually be completed within three business days after receipt of the requested information. This process will be necessary for each new external B2B account that you wish to set up.

Transactions after 3:00 PM will be considered part of the next business day.

Transaction Limitations

Incoming - $2,500
Outgoing - $10,000

Bank to Bank (B2B) Transfers – Established Customers

An Established Customer has an active retail account relationship of six months or more, has a new business/commercial relationship or a residential lending relationship with MFS. No account verification will be necessary; however, you warrant that you own the account being used for the transfer.

Bank to Bank (B2B) Transfers – New Customers

New retail and commercial account relationships may require verification of ownership of account.

Availability of Funds

All incoming deposits may be held for up to five business days.


Popmoney or “Pay Other People” anywhere, at any time using only the recipient’s email address, mobile number or bank account. An email or text notification is sent to the receiver with instructions on how to claim money. Receiver has 10 days to collect funds.

Scheduling Payments

Next Day – one business day if scheduled by 10:00PM.

Standard – three business days if scheduled by 1:00AM.

Next day payments scheduled prior to 10:00PM Eastern Time on a business day will be deducted on the delivery date. Standard three day payments scheduled prior to 1:00AM will be deducted next business day.


Transfers will take 1 – 3 days to process for standard delivery.


The minimum transfer amount is $5. The maximum payment amount per payee is determined by the user’s available limits, not to exceed $5,000 per payee per day. Limits are disclosed on the Popmoney transaction screen.

General Information


Please refer to our Business and Personal Fee Schedules for any account related charges. Click here for our current Fee Schedule.

Contacting Us

You may send us a secure email through Online Banking. Be advised that these communications are not immediately seen by MFS. If you need to contact us immediately (for example, to report a lost or stolen Debit/ATM Card or report an unauthorized transaction, account information, etc.), please telephone us during business hours at 617-666-4700 or after hours at 844-422-3065.

You cannot use email to conduct transactions.

Periodic Statements

Your periodic statements for your accounts will include any transfers or bill payments you authorize through Online Banking, as well as your other account activity.

Account Information Disclosure

We will disclose information to third parties about your account(s) and the payments or transfers you make:

  1. When it is necessary for verifying or completing payments or transfers, or resolving a problem relating to a payment or transfer
  2. In order to verify the existence and the condition of your account for a third party, such as a credit bureau or merchant
  3. In order to comply with government agency or court orders
  4. To any subsidiary or affiliate
  5. If you give us your written permission; or as otherwise permitted in Your Deposit Account Terms and Conditions by law, or as required by government regulations.

The following section is applicable to CONSUMER ACCOUNTS ONLY

Error Resolution

You agree to visit, telephone, or write us as soon as you can, if you think your statement or receipt is wrong or if you need more information about an Online Bill Pay or Transfer listed on the statement or receipt. We must hear from you no later than 60 days after we send the statement on which the problem or error appeared. A statement is considered to have been sent when it is first made available. Call or write us at:

Middlesex Federal Savings, F.A.
Attention: Customer Service Department
One College Avenue,
Somerville, MA 02144

You must:

  • Tell us your name and account number.
  • Describe the error or payment you are unsure about, and explain as clearly as you can why you believe it is an error or why you need information.
  • Tell us the dollar amount of the suspected error.

If you tell us verbally, we may require that you send your complaint or question in writing within ten business days. We may require you to provide your complaint in the form of an affidavit. We will inform you of the results of our investigation within ten business days (20 business days if the suspected error occurred outside the United States, new account, or if it occurred at a merchant location for the purchase of goods or services) 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 outside the United States, if it is a new account, or if it occurred at a merchant location for the purchase of goods or services) to investigate your complaint or question. If we decide to do this, we will re-credit your account within ten business days (20 business days if the suspected error occurred outside the United States, if it is a new account, or if it occurred at a merchant location for the purchase of goods or services) for the amount you think is in error, so that you will have the use of your 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 business days, we may not re-credit your account.

If we determine that there is no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used. Your Liability for Unauthorized Use – you can lose no more than $50.

The following section is applicable to BUSINESS ACCOUNTS ONLY

Secondary Users

Account owners may assign account access to individuals that may not be signers on the account (i.e. bookkeepers). MFS is not responsible for the activity of any Secondary User’s to whom you assign access.

Wire transfers, ACH and Remote Deposit Capture (RDC) are governed by separate agreements.

Update 05/01/2018

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