Privacy Policy

as of January 2006

We want you to know that we are totally committed to protecting and safeguarding your privacy. It is our policy to treat your personal and financial information with the utmost respect, and in accordance with your wishes. Since Bank of Internet USA utilizes traditional bank systems and the Internet to deliver products and services, certain Internet-related privacy issues may be of concern to you. For this reason, and because we want you to be a confident and informed customer, we have adopted the following Privacy Policy.

Do we disclose to any affiliated or non-affiliated third parties your non-public personal information?

NO - We do not disclose any nonpublic personal information about you to anyone, except as permitted by law.

Bank of Internet USA has adopted a strict security policy and procedure that prohibits the selling, or providing, of personal information to third parties for their independent use. However, in the normal course of business, we make information available to Bank of Internet USA vendors if the information is needed to fulfill an authorized service, requested by you, such as a Visa debit card, or mortgage loan. This is the same procedure as would be done by any traditional bank. Please be assured that Bank of Internet USA values customers and their privacy.

We periodically review these procedures and policies to ensure the highest level of security in regard to your private information. If you ever have any questions or concerns other than those listed below, send us an email at customerservice@bankofinternet.com or call our toll free number (877) 541-BOFI (2634).

What types of non-public personal information do we collect about you?

We collect nonpublic personal information about you from the following sources:

Information we receive from you on applications or other forms;
Information about your transactions with us; and
Information we receive from a consumer-reporting agency

How do we protect the confidentiality and security of your non-public personal information?

We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.

Disclosure of Information to Third Parties

Bank of Internet USA will not, without your consent, release specific information about you or your account to third parties, except where such release is necessary to complete a banking related transaction you have requested, or unless we are required to do so by law. In addition, we may send information in a report, from time to time, to information reporting companies such as credit/debit reporting agencies.

Should we learn of a valuable product or service that is provided by other vendors, we will ask your permission before we solicit your business. This is known as an “Opt In” confidentiality policy. You the customer must opt in before we present you with the information. You will not be marketed to by third parties based upon our information unless you allow such marketing on a case-by-case basis.

The Collection and Retention of Personal Information

When you utilize the Apply Online function via the Internet to open a Bank of Internet USA deposit account or loan, we will collect personal information in order to process your application. Such information is collected and maintained in order to authenticate your identity and to protect you. We must identify and verify you to prevent unauthorized entities from accessing your personal financial information. We also utilize this information to provide the products and services you request and to offer you the new products and services that meet your needs. These associates are only provided the information necessary to fulfill the service.

After you are a customer, your Internet banking sessions, including the transactions you conduct online, are archived. This allows us to process and confirm your transaction and to provide you with the history of your account transactions.

What is our policy relating to former customers?

If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this notice.

Confirmation and Maintenance of Personal Information

If you have questions or just want to confirm that your personal information at Bank of Internet USA is correct, please contact us at customerservice@bankofinternet.com or call us at 858-350-6200. If you send an e-mail do not include confidential information.

It is the policy of Bank of Internet USA to maintain accurate and complete information on our customers. If you have any reason to believe that the information we hold with respect to you or your account is inaccurate, outdated, or incomplete, please contact us by telephone or in writing so that such information may be corrected or updated as soon as possible.

E-Disclosure Statement

On our website, the statement asks for your consent so that we can provide communications and information to you in electronic form rather than in paper form. We will sometimes use the words “electronic records” as a short way to refer to the communications and information that we may provide electronically. Before you decide whether or not you wish to give your consent to receiving electronic records, you should read and consider the following information. Then, if you decide to consent, you can click the “I Agree” button at the bottom of the online statement. (For your consent to be effective, your computer and browser will need to meet the hardware and software requirements discussed below at "Are there any hardware or software requirements for me to access or retain the electronic records.")

The statement contains important information that we are required by law to provide to you. You should keep a copy for your records. For your convenience, this statement is written in a "Question and Answer" format. If you have any questions about electronic records that are not answered, feel free to communicate with us using any of the following "Contact methods":

Send us an e-mail at customerservice@bankofinternet.com; or call us toll free at (877) 541-BOFI (2634); or
Write to us at:
Bank of Internet USA

Corporate Headquarters
12777 High Bluff Drive
Suite 100
San Diego, CA 92130

What records will you provide to me electronically?

If you consent, you will receive electronic records that relate to our Online Banking Services. These will include the following types of documents:

Your Deposit Account Agreement and Disclosure. This Agreement contains the terms and conditions governing your deposit account. It also contains information that we are required to disclose to you under the following federal laws (and any implementing Federal Reserve Board or other Regulations):
1. The Truth in Savings Act (and Regulation DD);
2. The Electronic Fund Transfers Act (and Regulation E); and
3. The Expedited Funds Availability Act (and Regulation CC).
Your monthly account statement. As part of the monthly account statement, you will receive information about your account, including disclosure information required under these same federal laws (and Regulations).
Other periodic or special notices (such as hold notices on availability of funds, or error resolution notices if you assert your rights under the federal consumer protection laws and regulations). These include special notices that federal laws and Regulations from time to time might require us to provide to you.
Privacy notices and disclosures. These notices provide you with information about our privacy practices and policies.

Do I have an option to regularly receive these records in nonelectronic form?

No, not really. If you want to use our Online Banking Service, the Service was designed and built to provide records to you in electronic form. Put another way, the system is an electronic banking system and it does not have a paper-based alternative.

Can I get a copy of the records in nonelectronic form if a special need arises?

Yes, you can. If you request one, we can prepare a paper-based version of any of the electronic records you receive, for up to five years after the date it was created. If you want us to prepare a paper-based copy, you can request it by contacting us using one of the Contacts shown above.

If you request one, we will provide a paper-based copy of an electronic record free of any Bank charges, with one exception. There is a charge of $ 2.00 per page for paper- based copies of your monthly statements, and we will charge this fee to your account. Normally, we will mail paper-based copies of an electronic record to you (at the address shown on our records) within 3 weeks after the date we receive your Contact request for it.

If I consent to electronic records now, and change my mind, what can I do and what are the consequences?

You can change your mind, and withdraw your consent, at any time. We will then stop providing records to you electronically. To withdraw your consent, all you need to do is contact us using one of the Contacts described above.

However, remember that the Online Banking Service does not support paper-based communications. So the consequence to you, if you withdraw your consent to electronic records, is that your access to and your ability to use the Online Banking Service will end.

Are there any hardware or software requirements for me to access or retain the electronic records?

Yes, there are. You will need a computer with sufficient memory to store electronic records, and with a working connection to the Internet. You will need a minimum web-browser version of Internet Explorer 5.0 or Netscape Navigator 6.1 (or higher), with e-mail capability. Your browser will need to have 128-bit encryption capabilities. You are responsible for configuring your system to accommodate these requirements. Finally, you will need a printer if you want to print copies of electronic records.

If we change the minimum hardware or software requirements needed to access or retain electronic records, and the change creates a material risk that you will not be able to access or retain a subsequent record, then before the change takes effect we will let you know about the change and let you know what the new requirements are.

We will notify you by e-mail, and at that time you will be allowed to choose whether you still want to give us your consent to receiving communications or information by electronic records. If not, you will be allowed to withdraw your consent at that time, without any fee or charge by us.

However, if you withdraw your consent, you may not be able to access the Online Banking Services without upgraded hardware or software. Then, your ability to use the Online Banking Service could also end (as described above, under "If I consent to electronic records now, and change my mind, what can I do and what are the consequences?").

How will the electronic records be provided to me?

Your "Deposit Account Agreement and Disclosure" and the "Privacy notices and disclosures" are available online and in the disclosure book.

Other "periodic or special notices" will be sent to you by e-mail, unless they contain confidential account information. If so, then these will be posted at our web site, or mailed if posted to our web site we will send an e-mail to you letting you know that they can be picked up.

Your monthly account statements contain confidential information, so they will be stored for you to pick-up (print or review) at our web site, at www.bankofinternet.com. A monthly statement of yours is posted to our web-site every month. The monthly statement will be stored in the confidential section on our web site, and will be available to you, for at least 180 days following the date it is first posted for pick-up.

To access your monthly statements, you will need to enter the Internet banking section of the bank web site.

Are there other special requirements for electronic records?

You must provide us with your current e-mail address, and keep it current with us at all times. Otherwise, you may not receive electronic records in a timely manner.

If you download or print any confidential materials, such as your monthly statements, be sure that you store them in a secure environment, just as you would paper-based bank records.


	Affiliates \| Privacy \| Sitemap \| Terms of Use \| Blog Toll FREE (877) 541-BOFI (2634) • PO BOX 919008, SAN DIEGO, CA 92191-9872 © Bank of Internet USA 2009, All Rights Reserved.