Online Banking Agreement

Ultima Bank Minnesota

Consumer Online Banking Agreement

Online Banking • Mobile Banking • Related Services

Please carefully read this Online Banking Agreement (hereafter “Agreement”) for the use of Online Banking (hereafter “OLB”), Mobile Banking and Related Services as provided by Ultima Bank Minnesota (hereafter “UBM”). This Agreement was revised March 31, 2026, and includes disclaimers of liability and other matters of interest to OLB users. 

YOUR USE OF OLB

UBM is a privately held commercial bank, chartered in Minnesota. It is a full-service bank that provides a full set of “Consumer” Oriented, Online Internet Banking Services hereinafter referred to as OLB. This Agreement between you and UBM governs your use of OLB. Products and services provided by UBM that you may access through OLB are also governed by other agreements with you.
 
OLB, as used in this Agreement, includes the following Internet based UBM products and services: OLB, Imaged Statements and Checks and electronic Bill Payment. In this Agreement, we will use the term “OLB” to refer to all of the above electronic services both individually and/or collectively. Additional services may be available in the future that will be automatically covered by this Agreement.
 
In addition to this Agreement, UBM’s Privacy Policy and Online Security Statement also apply to your Accounts. We suggest that you review these items in order to understand all of your relative rights and responsibilities in connection with your use of OLB.

Terms Used in This Agreement

• “We/us/our/UBM” refer to Ultima Bank Minnesota located in Minnesota and any other affiliates that are involved in maintaining your UBM Account(s) and providing you with online banking services pursuant to this Agreement.
• “You/your” refers to the owner of a UBM account or your authorized representative.
• “Account” refers to any deposit, investment or loan account maintained at UBM.
• “Consumer” refers to a natural person who owns a UBM Account with respect to which an internet banking service is requested primarily for personal, family or household purposes.
• “Authorized representative” refers to a person with authority of any kind with respect to your UBM Account(s) and the access to such accounts via OLB.

Accepting The Agreement

You understand that by using OLB you have agreed to the terms and conditions of this Agreement and that no signature by you is required on this Agreement. You agree to use OLB solely as provided in this Agreement and the applicable online instructions and give UBM authority to monitor, store and retrieve electronic transmissions (including messages and data) between us and you, our customers. When any transfer, payment or online service generates items to be charged to your UBM Account, you agree that we may debit your Account without requiring your signature on the item and without prior notice to you. 
 
We may, from time to time, introduce new OLB products. When this happens, we will update the Website to include such product. By using any such OLB product, you agree to be bound by the terms contained in this Agreement at that time.

Changes in Terms and Fees

We may change the services provided and the terms, including fees, set forth in this Agreement at any time. You will be notified of any such change as required by applicable law, either by mail or by an electronic message. You understand that by using OLB after a change becomes effective, you have automatically agreed to it.

Maintaining Your Accounts

You agree to properly maintain, to comply with the rules governing, and to pay any fees associated with the use or maintenance of your UBM Accounts. Any issue relating to an Account or service with UBM or affiliate accessed through OLB shall be governed by the law(s) specified in the agreement for that UBM Account or Service.
 
Your UBM deposit and loan accounts can be linked together and accessed and viewed via OLB. The Terms and Conditions of your Account Agreements and your Loan Agreements will govern, except where it is noted in this Agreement. This Agreement will control if there is a conflict with your other UBM agreements and this Agreement for OLB. In addition, each UBM Account and your use of OLB is subject to the following:

• Terms or instructions appearing on a screen when using OLB.
• UBM’s rules, procedures and policies applicable to UBM Accounts.
• Rules and regulations of any funds transfer system used in connection with OLB.
• Applicable state and federal laws and regulations.

Account Access Via OLB

Through OLB, you can access your UBM Accounts to check balances, transfer funds, view transaction history, view check images, pay bills and receive statements and other related documents electronically. To access your UBM Accounts via OLB you must have a valid Access ID and Password. You are solely responsible for having the required hardware and software and for securing an Internet Service Provider (“ISP”).
 
Subject to the terms of this Agreement, you will generally be able to access your Accounts via OLB at www.ultima.bank seven days a week, 24 hours a day. A transfer requested through OLB before the transfer cutoff time on a business day will generally be posted to your account the same day. All transfers requested after the posted transfer cutoff time on a business day or on a day that is not a business day, will be posted on the next business day. Every day is a business day except Saturdays, Sundays, and bank holidays.
 
At certain times, OLB may not be available due to system maintenance or circumstances beyond our control. During such times, you may visit one of our branch locations, ATM or call to obtain information about your UBM Accounts.

Password, Access ID, Multifactor Authentication

You will be provided with a Password and Access ID that will allow you access to OLB. During your first logon session, you will be required to change your Password. Thereafter, your OLB Password can be changed online at any time. Note that your Password is “case sensitive” and must be at least 8 to a maximum of 64 characters. The new password must contain:

• 1 upper case letter(s)
• 1 lower case letter(s)
• 1 number(s)
• 1 of the following special characters: !@#$%^&*,.<>
• Must be different from the last 10 previously created password or passwords

We are entitled to act on instructions received under your Password. For security purposes, we recommend that you memorize the Password and do not write it down. You are responsible for keeping your Password and Access ID confidential.
 
We use Multifactor Authentication as a means to authenticate customer logins. You will receive a 5-digit one-time verification code via phone or text upon login.  Only after a successful security challenge will you be prompted for the password.  Three invalid attempts at the security question will lead to a lockout that must be managed by UBM staff.

Secure Messaging

You can communicate with us via Secure Messaging within your login session.  Unfortunately, there could be times when we may not receive your secure message immediately.  No action will be taken on any secure message you send to us until we actually receive your message and have a reasonable opportunity to respond. You cannot use secure message to make a bill payment, deposit, account balance inquiry or funds transfer. Also, you cannot use secure message to cancel a transfer, loan payment or bill payment. Never send us your OLB Access ID or Password or other sensitive UBM Account information via secure message.  If you need immediate assistance, please call Online Support at (218) 435-2265 ext. 102 (if local) or (800) 421-2588 (toll free) ext. 102.

Account Statements

All of your daily transactions, payments, and funds transfers can be displayed on your Account statement(s) via OLB. You can also access and export such transaction data from either your current or previous statement into your money manager software. You generally have up to one statement cycle after the last day of your previous statement (or 30 days after your previous statement is prepared) to export the information. 

Account Access Via Mobile Banking

You may also access your UBM accounts and deposit checks via our Mobile Banking. To download our mobile app, visit your device’s app store and search for the Ultima Bank Mobile app.  Once downloaded, enter your access ID and password to begin the login process.
 
For check deposit, we require a photo of the back and front of the check along with proper endorsement.  Checks deposited prior to 4:00 p.m. CT will be credited the same business day.  Those received later will be credited the next business day.  If there is a problem with your check being deposited, UBM staff will contact you directly with the reason.  If you question whether a check has been received for deposit, please contact us at (800) 421-2588 ext. 102 or (800) 421-2588 ext. 102 or by email at tech@ultima.bank.  Checks deposited electronically should be marked as deposited to prevent duplicate deposit and should be destroyed in a timely fashion after proper credit has been received.

Our Responsibilities

1. We will use our best efforts to make this service available for your use on a continuous basis, however, access to the Mobile Banking service may be interrupted because of conditions beyond our control, to include Internet outages.
2. We reserve the right at all times to take actions to protect our system and information, including denial of access to users.
3. We will use commercially reasonable efforts to secure the service to prevent access by unauthorized persons and/or the introduction of any malicious code. 

Your Responsibilities

1. We ask that you take precautions when using our Mobile Banking Service.  Do not tell anyone your Access ID or password.  Never leave your phone unlocked and unattended.  Delete old text messages from UBM that are no longer needed.  Notify UBM if you feel that your access has been compromised in any way or if your phone has been stolen or if your cellular phone number has changed.  You can contact us at (218) 435-2265 ext. 102 or (800) 421-2588 ext. 102 or by email at tech@ultima.bank.
2. You agree to comply with all applicable laws, rules and regulations in connection with Mobile Banking.  We make no representation that the content or use of Mobile Banking is available for use in locations outside of the United States.  Access from locations outside of the United States is at your own risk and your responsibility for compliance with local laws.
3. You will secure checks deposited using Mobile Deposit and will only deposit them once.  After the check has been credited to your account, you will destroy the original item within a reasonable amount of time.
4. There is no charge to access UBM’s Mobile Banking, however, the charges for your mobile device, text messages and web access are solely your responsibility.  We reserve the right to charge for Mobile Banking or Mobile Deposit without prior notice. If at any time you would like to discontinue your Mobile Banking access with UBM, please contact us at (218) 435-2265 ext. 102 or (800) 421-2588 ext. 102 or by email at tech@ultima.bank.

UBM’S ONLINE BANKING SERVICES

Available Services

Through the use of OLB, you can obtain account balance information, review transaction history, view checks that have been paid from your Accounts, pay bills and transfer funds electronically among your UBM Accounts. In some instances, balances and transaction history may only reflect activity conducted through the close of the previous business day. 

Linked Accounts

Your UBM Accounts will be linked by tax id number to access said UBM Accounts. Each account owner will be able to access, view and conduct transactions in all of their authorized UBM Accounts.

Business Days

Our business days (“Business Days”) are Monday through Friday, except bank holidays. Although transfers and bill payments are processed by UBM on business days only, you can initiate a transfer or payment through OLB 24 hours a day, seven days a week.

ELECTRONIC PAYMENT SERVICE

Personal Bill Payment

Through OLB, you are allowed to make certain payments electronically. You can arrange for the payment of your current, future and recurring bills from your UBM Checking Account.
 
There is no limit to the number of payments that may be authorized from UBM Checking Accounts. However, only one payment may be sent to each biller on the same day. A Biller can be either a Business Payee or a Non-business Payee. You may not pay alimony, child support, taxes or other governmental fees or court-directed payments or make payments to anyone outside the United States via OLB. The mailing address of any biller must be in the United States, and you are responsible for ensuring that you provide us with a correct address. By furnishing us with the names of your payees and their addresses, you authorize us to follow your instructions regarding payment to your billers.

Payee Information

In addition to your biller names and addresses, you will need to enter your biller account number to ensure your payments are properly credited. Please note that your Business Payee may require that payments be sent to a specific address; this mailing address may be different than other addresses that appear on your invoice or billing statement. You may need to contact the Business Payee to obtain their payment mailing address.
 
Biller information is retained by OLB and can be retrieved by you at any time. Additions, deletions, and changes to biller information can be made at any time from your personal computer or mobile device, subject to the timing requirements noted in the Stop or Change Instructions section below. Such biller information is used solely for the purpose of processing payments from your UBM Accounts and is subject to UBM’s Privacy Policy as described in the Disclosure of Information section of this Agreement. The date the payment is to be paid, whether electronically or by check, is called the Deliver by Date. When we receive a payment instruction (for the current or a future date), we will make payment to the biller on your behalf from the funds in your UBM Account on the Pay Date. Bill Payment funds will clear your account either by electronic means or a check drawn on your UBM account directly or the FIS corporate checking account.
 
Ultima Bank Minnesota uses the Risk model when creating payments. Payments are remitted to payees without any validation of funds availability. This model is similar to how consumers traditionally pay bills – they write checks and set up ACH auto debits and are responsible for having the funds in their account when the debits are posted. In the risk model, payments can be processed to reach payees with the shortest lead-days possible, providing swift payment processing.  Ultima Bank Minnesota can apply standard fees for NSF payments. 

Scheduling Payments

Any payments made via OLB will require sufficient time for your Payee to receive your payment and credit your payment properly. To avoid incurring finance or other charges, you should schedule your payment sufficiently in advance of the due date. When you schedule payments, please take special care to select your appropriate date from the Bill Payment calendar, include extra processing time as some businesses take longer to post payments than others.  You should consider allowing additional time for the initial Payment to a Payee through the Service in order to gauge the appropriate Payment Date/Withdraw on Date or Due Date/Deliver by Date in each case and determine whether to allow an additional one (1) or two (2) business days to avoid incurring any late fee charged by the Merchant. It is your responsibility to schedule Payments appropriately and in accordance with the Payee’s requirements. Neither the Service provider nor the Financial Institution shall be responsible for late payments nor reimburse you for late fees, for any Payment delivered in accordance with your instructions, or as a result of a Payee’s payment processing policies, or any other circumstance outside the Service provider’s control. Expedited payments are available if needed but do result in a charge that is paid by you.

Stop or Change Instructions

You have the right to stop or change any one-time bill payment as long as it is done before the check processes. Once a payment is in-process, it cannot be canceled through the bill payment service; you must contact your branch to request a stop payment.  UBM’s ability to create the stop payment will depend on how the funds were remitted to the payee and the elapsed time since the payment was processed.  A recurring payment may be edited or canceled after processing for the current payment instance is complete. Please contact us at (800) 421-2588 ext. 102 for assistance.

UBM Accounts Accessible by More Than One Person

If your OLB Account is owned by more than one person or is accessible by one or more authorized representatives, each such owner or authorized representative may individually access those UBM Accounts via OLB. Each owner or authorized representative will need a unique Access ID and Password. The terms of this Agreement will apply to each such person.

ELECTRONIC FUND TRANSFERS

OLB enables you to transfer funds electronically to or from your UBM Accounts. The Electronic Funds Transfer Act provides you with certain rights and responsibilities with respect to certain of these transfers, commonly referred to as an Electronic Funds Transfer (hereafter “EFT”). Such rights and responsibilities are fully described in our Electronic Funds Transfer Disclosure that has been separately provided to you. You can also click here on EFT Disclosure for online access.

Your Liability

Your liability for an unauthorized EFT or a series of related unauthorized EFTs from your UBM Account will be determined as follows:

1. If you notify us within two business days after learning of the loss or theft of your Access ID or your Password, your liability will not exceed $50 or the amount of unauthorized EFT’s that occur before notice to us, whichever is less.
2. If you fail to notify us within two business days after learning of the loss or theft of your Access ID or your Password, your liability will not exceed the lesser of $500 or the sum of:
3. If your delay in notifying us was due to extenuating circumstances, we will extend the times specified in this section to a reasonable period.
4. You may notify us in person, by telephone at (218) 435-2265 ext. 102 or (800) 421-2588 ext. 102, in writing to Ultima Bank Minnesota PO Box 299 Fosston, MN 56542 or electronic mail to tech@ultimabank.com. 
5. You must report an unauthorized EFT that appears on a periodic statement within 60 days of receipt of the statement to avoid liability for subsequent transfers. If you fail to do so, your liability will not exceed the amount of the unauthorized EFT’s that occur after the close of the 60 days and before notice to us, and that we establish would not have occurred had you notified us within the 60-day period. You may, as applicable, also be liable for the amounts described in sections 1 or 2 above.

• $50 or the amount of unauthorized EFT’s that occur within the two business days, whichever is less.
• the amount of unauthorized EFTs that occur after the close of two business days and before notice to us, provided we establish that these EFT’s would not have occurred had you notified us within that two-day period.

External Transfers

External transfer services enable funds to be transferred to accounts at other financial institutions. By enrolling an external account or making a transfer using the account-to-account service, you accept all the terms and conditions. You represent that you are an owner of that external account and are authorized by any other owners of the external account to enroll that account to make external transfers. All external transfer accounts will be validated via micro deposit validations prior to the first external electronic transfer.

Business ACH File Transmission

Business online ACH file transmission is a service addressed within an external ACH agreement between UBM and the business.  All terms and conditions of this service are addressed in this separate agreement.

Business Remote Deposit Transmission

Business online Remote Deposit file transmission is a service addressed within an external ACH agreement between UBM and the business.  All terms and conditions of this service are addressed in this separate agreement.

Telephone Number and Address

Call our Online Support Immediately at (218) 435-2265 ext 102 (if local) or (800) 421-2588 ext 102 (toll-free) or by email at tech@ultima.bank if you believe your Access ID or your Password has been lost or stolen, or if you believe someone has transferred or may transfer money from your UBM Account(s) without your permission, or if you suspect any fraudulent activity on your UBM Account.

OUR LIABILITY

Our liability to you is limited to the extent stated in any other Account and/or Loan Agreements, notices, and disclosures that are separately provided to you from time to time regarding your UBM Accounts and/or this Agreement. This section explains the complete extent of our liability to you to the extent that it has not been disclosed separately by any of these agreements, notices, or disclosures.
 
Neither UBM nor any of its Directors, Employees or Agents makes any representations or warranties of any kind regarding the performance or quality of the services set forth in this agreement or the results that may be obtained from using such services.  UBM specifically disclaims any express or implied warranties, including, without limitation, warranties of fitness for a particular purpose, warranties of merchantability or warranties against infringement.
 
Neither UBM, nor any of its Directors, Employees or Agents shall be liable for any damages or losses, including, without limitation, direct, indirect, consequential, special, incidental or punitive damages, resulting from or caused by the use, or attempted use, of the services set forth in this agreement, or its content, including, without limitation, losses related to: your use, or inability to use the services set forth in this agreement; any errors, omissions or defects in any content; any interruptions or delays in transmission to the services set forth in this agreement; or computer viruses received by you as a result of your use of the services set forth in this agreement.  In any event, any liability of UBM, its Employees, Agents, Content Providers and Licensors shall not exceed those amounts specifically provided for in this agreement.
 
Further, we will not be obligated to honor, in whole or in part, any transaction or instruction which:

• Is not in accordance with any term or condition applicable to the relevant service in this Internet Banking Agreement or your UBM Account Agreement.
• We have reason to believe the transaction may not have been authorized by you or any third person whose authorization we believe is necessary, or which involves funds subject to a hold, dispute, restriction or legal process we believe prevents their withdrawal.
• Would violate any applicable provision of any risk control program of the Federal Reserve Bank or any applicable rule or regulation of any other federal or state regulatory authority.
• Is not in accordance with any other requirement of our applicable policies, procedures or practices.
• We have reasonable cause not to honor for your protection, or ours.

Your Indemnification

Except to the extent of UBM’s liability pursuant to the terms of this Agreement or any other agreement or notice that otherwise governs your UBM Account, you agree to indemnify and hold us, our directors, officers, employees and agents harmless from any and all loss, liability, claims, demands, judgments and expenses (including attorney’s fees) arising out of, or in any way connected with, your use or misuse of OLB. You, or your authorized representatives provide this indemnification without regard to whether or not our claim for indemnification is due to the use of OLB.

GENERAL PROVISIONS

Termination

Unless otherwise required by applicable law, UBM may terminate or reinstate this Agreement and/or your access to OLB, in whole or in part, at our discretion, at any time. If reinstated, the then current terms of this Agreement will control. You may request reinstatement of OLB by calling our Online Support at (218) 435-2265 ext. 102 (if local) or (800) 421-2588 ext. 102 (toll-free) or by email at tech@ultima.bank.

Assignment

We may assign our rights and delegate our duties under this Agreement to a company affiliated with us or to any other party. We may also assign or delegate certain of our rights and responsibilities under this Agreement to independent contractors or other third parties.

Notices

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 email address as reflected in our then current records.

Disclosure of Information

The circumstances under which we will disclose information about you or your UBM Accounts has been separately disclosed to you in our Privacy Policy and in other disclosures which have been provided directly to you. Our Privacy Policy may change from time to time and is always available on-line and in paper form at our banking locations.

Authorization to Obtain Information

You agree that we may obtain and review your credit report from a credit bureau. You also agree that we may obtain information regarding your Payee accounts in order to facilitate proper handling and crediting of your payments.

Venue

Any action at law, suit in equity or other judicial proceeding for the enforcement of this Agreement or any provision thereof shall be instituted only in the courts of Polk County located in the State of Minnesota.

Legal Process

If we are served with any notice of lien, attachment, levy, garnishment or other legal process relating to you or your UBM Account, we are authorized without notice to you or any joint Account Holder, except where required by law, to withhold the withdrawal or payment of so much of the funds in your UBM Account that may be the subject of such notice or legal process. We may disburse such amount out of your Account to a court or to such persons as applicable state or federal law either requires or permits because of such powers. We have no liability to you for such withholding or disbursements or for refusal by us to permit withdrawals or payment against your UBM Account because of a court order or other legal process including the return by us of items presented against your UBM Account as unpaid that otherwise would be paid. Any lien, attachment, levy, or garnishment against your UBM Account is subject to our right of set-off as provided in the Agreement unless prohibited by law. You agree to pay our costs and expenses for complying with such legal process, including legal costs and attorneys’ fees, costs of research and copying and administrative fees.

Arbitration

You and we agree that all disputes, claims and controversies between us, whether individual or joint in nature, arising from this Agreement shall be arbitrated pursuant to the Rules of the American Arbitration Association in effect at the time the claim is filed. No act to take or dispose of any property shall constitute a waiver of this arbitration agreement or be prohibited by this arbitration agreement. This includes, without limitation, obtaining injunctive relief or a temporary restraining order. Judgment upon any award rendered by any arbitrator may be entered in any court having jurisdiction located in Polk County Minnesota. Nothing in this Agreement shall preclude any party from seeking equitable relief from a court of competent jurisdiction. The statute of limitations, which would otherwise be applicable in an action brought by a party, shall be applicable in any arbitration proceeding, and the commencement of an arbitration proceeding shall be deemed the commencement of an action for these purposes. The Federal Arbitration Act shall apply to the construction, interpretation and enforcement of this arbitration provision.

Governing Law

This Agreement will be governed by, construed and enforced in accordance with federal law and the laws of the State of Minnesota, which govern and are applicable to your UBM Account.

FEES

Online Banking

Reference the specific UBM Account being accessed via OLB for the terms and fees associated with the use of OLB.

Telephone and ISP Charges

You will be responsible for any telephone charges that you incur and any fees charged by your Internet Service Provider when you use OLB.