Online Banking Disclosure and Agreement

Where the Sign of Hospitality Meets the Values of Community Banking

Online Banking and Bill Payment Agreement and Disclosure Statement

This Agreement between you and Colonial Virginia Bank (�CVAB�) covers the use of all CVAB�s Online services. Your completion of the Online Banking request form and use of these services indicate your agreement to the terms and conditions of this entire Agreement. This Agreement does not change agreements already established for your account, but amends them.

With Online Banking you may:

View your balance information
Make transfers between your related accounts

Transfers may be made as loans payments
Transfers are immediately reflected in your account balance
The cutoff time for transfers is 7:30pm each business day, any transfers made after 7:30pm will be posted on the next business day

Overdraft, NSF decisions are made before 10:30am each business day, based on balances at that time, and transfers made after this time cannot be included in that decision

View prior statements
View transactions for a specified period
Download transactions
Initiate stop payments (you MUST visit a branch location to sign the stop payment within 14 days)

Your account will receive the normal stop payment charge

Order checks thru a link to a third party website
Create a variety of electronic alerts to be sent to the email address you specify

You agree that the Bank neither guarantees nor takes any responsibility as to the delivery or accuracy of alerts

With Bill Payment you may:

�        Make one-time or recurring payments from your checking account(s) to the Payees you select

�        View Bill Payment history for a selected date range

Bill Payment Processing

�        Payment processing is initiated at 3:00am and 1:00pm each business day

�        Payments can be made in one of two ways-electronic or by check

o       Electronic payments are sent to payees in an electronic file on the same day they are processed

�         Your account will be debited the same business day that the electronic payment is initiated

�         You should schedule electronic payments at least 3 business days in advance of the actual due date-not the grace period date

o       Check payments involve an actual check being mailed to your payee and will clear your account as such

�         When making a payment by check, you should take into consideration the time it will take for the payee to receive the payment in the mail

�         You should schedule check payments at least 5 business days in advance of the actual due date-not the grace period date

�         The Bank cannot be held responsible for delays due to the USPS

�        The Bank cannot be held responsible for late charges or other fees incurred if you fail to allow enough time for your payee to receive payments

�        When you initiate a payment with Bill Payment, you agree to provide the Bank with enough information to identify the Payee and for the Payee to identify you as the source

�        When you schedule a payment with Bill Payment, you authorize the Bank to debit your indicated checking account for the necessary amount to fund the payment

�        The Bank cannot be held responsible for transfers and/or payments not made because of insufficient funds to perform those actions

Fraudulent/Unauthorized Activity or Theft/Loss of Online Banking Sign on Information

�        If your Online Banking sign on information is lost/stolen, you must contact the Bank immediately at 804-695-9300 or after hours at online.banking@colonialvabank.com

�        If you are aware of any fraudulent/unauthorized activity related to Online Banking, you must contact the Bank immediately at 804-695-9300 or after hours at online.banking@colonialvabank.com



�        You may also write us at:

Colonial Virginia Bank

P O Box 2120

Gloucester, VA 23061

Personal Computer Equipment

�        You are responsible for the operation of your personal computer

�        The Bank cannot be held responsible for any problems with your PC that may be associated with the use of any Colonial Virginia Bank Online service

Fees

�        There is no fee for Online Banking

�        There may be fees associated with Bill Pay depending on your individual account balance or other relationship with CVAB